Toyota Sales Dip Amid China EV Competition, Iran Conflict Looms

• Toyota Motor Corp. global sales, including subsidiaries, fell 2.3% in February to 806,905 units.
• Sales for Toyota and Lexus brands in China dropped 13.9%, with production shrinking 11.5% due to Lunar New Year.
• Japanese automakers, sourcing 70% of aluminum from the Middle East, face supply chain disruptions from the Iran conflict.
• Shifting shipping lanes from the Strait of Hormuz to the Cape of Good Hope could double delivery times to 100 days.
• Toyota's China joint ventures are recalling over 560,000 SUVs for a second-row seat defect, part of a 1.23 million global recall.