Group 1 - Toyota's sales increased by 6.6% year-on-year, reaching 145,500 units, marking the first growth in four months. The successful sales of the 2025 updated Corolla Cross contributed to this growth [3][6]. - In the electric vehicle (EV) segment, Toyota introduced new models such as the bZ3X and bZ5, resulting in a 70.9% increase in EV sales, totaling 6,400 units [3][6]. - Nissan's sales grew by 10.1%, reaching 50,024 units, driven by the upgraded fuel sedan "Tianlai," which features Huawei's smart cockpit, appealing to younger consumers [5][6]. Group 2 - Honda's sales declined by 16.5%, falling to 57,489 units. Although the decline was less severe compared to a 40% drop in December 2025, it still faced intense competition from Chinese automakers [6][7]. - The Chinese government plans to halve the vehicle purchase tax exemption for EVs starting January 2026, and adjustments to the vehicle trade-in subsidy system are also underway, leading to consumer hesitation in purchasing decisions [6].

Core Insights - Toyota has commenced operations at its $13.9 billion battery plant in North Carolina to meet the rising demand for hybrid vehicles and confirmed a plan to invest $10 billion in U.S. manufacturing over the next five years [1][3] - The North Carolina plant is Toyota's 11th facility in the U.S., covering 1,850 acres and capable of producing up to 30 GWh annually, employing 5,000 workers [1][3] - The plant will supply batteries for popular models such as the Camry, Corolla Cross, RAV4, and an undisclosed three-row hybrid SUV [1] Investment Plans - Over the next five years, Toyota plans to invest an additional $10 billion in the U.S., bringing its total investment to over $60 billion [3] - This investment strategy aligns with Toyota's commitment to a multi-faceted energy transition, offering a range of vehicles including fuel-efficient, hybrid, plug-in hybrid, electric, and fuel cell vehicles [3] Market Context - The U.S. government is expected to relax fuel economy standards, which were previously deemed too aggressive, potentially impacting the market dynamics for electric and hybrid vehicles [3] - Other automakers, such as Volkswagen, are also responding to the changes in U.S. policy by increasing the availability of hybrid models in the market [4]

"预想中最糟糕的情况成为了现实"，面对特朗普关税，丰田高管这样说。丰田每年从日本出口到美 国的汽车约占美国销量的20%。如果上调售价，在美销量将减少5～8%。如果转移生产，丰田日本 国内的供应链基础又将被动摇…… 特朗普政府的加征关税将动摇丰田在日本国内的生产体制。丰田每年从日本出口到美国的汽 车约53万辆车，约占美国销量的20%，加征关税将导致成本增加和销量减少。包括零部件制造 商等，丰田的日本国内供应链厂商累计达到约6万家。这些厂商受到的影响将难以避免，丰田 提出的"（日本）国内300万辆的生产体制"正站在十字路口。 "预想中最糟糕的情况成为了现实。将在全球范围内产生相当大的影响"，丰田高管这样表示。 丰田在2024年11月美国大选前后启动了应对关税的计划，并反复实施状况模拟。不过，除了 针对汽车和零部件的加征关税启动之外，特朗普还宣布了"对等关税"，这使事态变得更加不透 明。 丰田在美国的销量为233万辆(2024年)，而在美国当地的产量为127万辆，其余大量从日本、加 拿大和墨西哥进口。日本对美国的出口量相当于日本国内总产量(312万辆)的约17%。在对美 出口中，高档汽车品牌"雷克萨斯"预计占到约2 ...