Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Toyota’s Global Production and Sales Decline in September 2024
Toyota Motor Corporation reported an ongoing decline in global production and sales for September 2024, marking the eighth consecutive month of decreased output. The automaker’s total production fell by 8% year-on-year, reaching 826,556 vehicles. Notably, production in the United States dropped by 14%, while output in China declined by 19%.
The downturn in U.S. production was influenced by a temporary halt in manufacturing and delivery of the Grand Highlander and Lexus TX sport utility vehicles due to an airbag safety issue. Fortunately, production of these models resumed on October 21.
In China, the largest automotive market globally, Toyota faced intensified competition from local brands specializing in electric vehicles (EVs) and plug-in hybrids. This shift towards electrification has put significant pressure on traditional automakers like Toyota.
Additionally, Toyota’s global sales for September decreased by 7%, totaling 853,149 vehicles. The decline was even steeper in the U.S., where sales fell by 20%, while sales in China dropped by 9% and domestic sales in Japan decreased by 6%.
For the first nine months of 2024, Toyota has sold 7.4 million vehicles, reflecting a 2% decrease compared to the same period last year. These production and sales figures include vehicles from Toyota's luxury brand, Lexus.
