30 Million Cars in China Make Less Profit Than Toyota Alone! Toyota Raises This Year's Production to 10 Million Units

On August 4th, it was reported that in response to strong recent new car sales, Japan’s leading automaker Toyota is said to be raising its global production plan for this year, approaching a historic record.

According to multiple Japanese media reports, Toyota Motor has informed its major parts suppliers that its global production plan for 2025 (including Lexus but excluding Daihatsu and Hino) is set at approximately 10 million units.

Although affected by the high U.S. tariff policy, Toyota has slightly raised its global production target for this year from the originally set 9.9 million units in January, due to strong recent sales.

If this production plan is achieved, it will approach the historical record set in 2023. In 2023, Toyota’s global production reached 10.03 million units, marking the first time in history that the 10 million mark was surpassed.

Additionally, due to the slowdown in the electric vehicle market, Toyota has set its electric vehicle production plans for the next two years to 800,000 units each, a reduction of 200,000 units from the original plan.

In mid-last month, at the opening ceremony of the 2025 Beike Finance Annual Conference, Huang Qifan, Executive Vice Chairman of the Academic Committee of the China National Innovation and Development Strategy Research Association and former Mayor of Chongqing, stated that China’s automobile manufacturing industry is supposed to have relatively high efficiency among manufacturing sectors. However, as of June this year, the profit margin on output value was only 5%. The profit from selling 30 million vehicles is less than that of Japan’s Toyota alone, which achieves higher efficiency with just six to seven million vehicles sold compared to our 30 million.

According to DearAuto statistics, out of the 18 listed passenger car companies in China, the total net profit of the 13 profitable companies in 2024 is only 122.677 billion RMB.