Toyota Global Sales Fall 21.8% in November

Updated from 12:52 a.m. EST

By Yuri Kageyama

TOKYO -- In more bad news for Japan's auto industry, Toyota (TM Quote) said Wednesday its global vehicle sales plunged 21.8% in November, the biggest drop in eight years.

Rival Nissan(NSANY Quote) said its worldwide sales sank 19.8% and global production nose-dived a record 33.7% on depressed sales in the United States.

The dismal data comes two days after Toyota, Japan's biggest automaker, predicted that this fiscal year it would report its first operating loss in 70 years.

Toyota, running neck-and-neck against industry leader General Motors (GM Quote) in global vehicle sales, sold 618,000 automobiles in November, down 21.8% from last November.

That's the biggest year-on-year slide since Toyota began tracking comparable data in January 2000. Such declines never reached 20% in the past, the company said.

Nissan, Japan's third-biggest car manufacturer, said its global production plummeted 33.7% to 222,212, the largest drop since it started compiling such data in 1985. Worldwide sales dropped nearly 20% to 237,653 in the month.

"Weak demand in the United States and Europe pressured our production. A slump in domestic output also contributed" to the record fall, said Nissan spokeswoman Yuko Matsuda.

Japan's No. 2 carmaker, Honda(HMC Quote), said Wednesday its global production in November tumbled 9.9%, the biggest fall in five years, to 326,176 vehicles. Honda does not provide global vehicle sales.

For the January-November period, Toyota sold 8.356 million vehicles around the world. Detroit-based GM has not released such figures.

Japanese automakers, which boast a reputation for fuel-efficient models, had avoided some of the serious problems of their American rivals. But shrinking demand in the U.S. after the financial crisis hit earlier this year has battered their sales and profit.

Toyota said Monday that it expects to report an operating loss of 150 billion yen ($1.66 billion) for the fiscal year ending March 2009, its first such annual loss since 1938, the year after the company was founded.