Toyota May global sales drop 7.2%, down for 4th month, on weak China demand

Toyota Motor Corp. said Monday its global sales in May dropped 7.2 percent from a year earlier to 834,279 units, marking the fourth straight month of decline, reflecting sluggish demand in China hit by higher gasoline prices amid the Middle East conflict.Its exports from Japan to the Middle East plunged 65.9 percent to 7,323 vehicles in the reporting month, falling for the third consecutive month, likely due to logistics disruptions stemming from the regional conflict.Global output fell 5.5 percent to 765,470 cars, posting its first decline in three months, according to the world's largest …READ FULL ARTICLE