Group 1: Market Overview - New vehicle sales in Indonesia increased by 12% to 81,159 units in February 2026, up from 72,356 units a year earlier [1] - The local vehicle market expanded by almost 10% to 147,361 units in the first two months of 2026, compared to 134,440 units in the same period last year [3] - Overall vehicle production rose by 8% to 209,543 units year-to-date, supported by a 23% rise in exports of fully assembled vehicles to 86,588 units [6] Group 2: Consumer Sentiment and Economic Factors - Consumer sentiment has improved following a 150 basis points cut in the central bank's benchmark interest rate since September 2024, now at 4.75% [2] - GDP growth accelerated to 5.4% in the fourth quarter of 2025, the strongest annualized growth since 2022, driven by strong domestic consumption and investment [2] Group 3: Vehicle Segmentation - Sales of light passenger vehicles rose by 5% to 110,367 units, while commercial vehicle sales rebounded by 26% to 36,994 units [3] - Sales of small internal combustion engine (ICE) passenger cars under the government's 'Affordable Energy Saving Car' programme fell by 21% to 22,106 units, while deliveries of battery electric vehicles (BEVs) surged almost fourfold to 25,834 units from 7,569 units [4] Group 4: Company Performance - Toyota's sales declined by 8% year-on-year to 42,600 units in the first two months of the year, while Daihatsu's sales rebounded by 18% to 25,965 units [5] - Mitsubishi reported a 19% sales increase to 13,906 units, while Suzuki's sales rose by 28% to 12,422 units [5] - BYD's sales surged almost fourfold to 9,532 units, while Honda's sales plunged by 41% to 9,401 units [5] Group 5: Future Projections - GlobalData forecasts that sales of light vehicles in Indonesia will decline by almost 4% in 2026 to 721,000 units from 750,000 units in 2025, before rising by 7% to 771,000 units in 2027 [6]

Core Insights - Volkswagen Group experienced a significant decline in profitability for FY25, with earnings after tax dropping 44.3% year-on-year to €6.90bn ($8.04bn) despite stable revenue [1] - Revenue for the year was €321.91bn, reflecting a slight decrease of 0.8% compared to FY2024, while the operating result fell sharply by 53.5% to €8.86bn [1] Financial Performance - The decline in operating results was primarily due to US tariffs, costs related to the Porsche product strategy, currency fluctuations, and price/mix effects, although cost programs provided some relief [2] - Excluding special items such as restructuring charges and tariff impacts, the operating profit would have been €17.7bn [2] Sales and Market Performance - The group sold 9.022 million vehicles in 2025, nearly unchanged from 9.037 million in the previous year, with battery electric vehicles (BEVs) driving demand as orders increased by approximately 55% [3] - Sales in Europe rose by 5% and in South America by 10%, while North America and China saw declines of 12% and 6% respectively due to challenging market conditions [3] Quarterly Results - In Q4 FY2025, sales revenue was €83.24bn, down 4.7% year-on-year, and the operating result for the quarter decreased by 44.6% to €3.46bn [4] - Quarterly earnings after tax reached €3.49bn, a decline of 1.7% compared to the same period last year, with a slight reduction in headcount to approximately 662,900 employees [4] Dividend and Future Outlook - The board plans to propose a dividend of €5.26 per preferred share and €5.20 per ordinary share for FY25, marking a 17% decrease from the previous year [5] - The company anticipates sales revenue growth in 2026 to be between 0% and 3% compared to 2025, despite facing macroeconomic challenges and rising competition [5][6]

Group 1 - Toyota Motor is considering divesting strategic shareholdings worth approximately Y3 trillion ($19.21 billion), primarily involving financial institutions, with potential sales starting this year [1] - The divestment could expand based on shareholder participation and is seen as a significant move in Japan's corporate governance reforms [1][3] - Toyota is expected to repurchase shares through buybacks and is also exploring a secondary placement to other investors, although details on timing and size remain uncertain [2] Group 2 - Japan's regulators and the Tokyo Stock Exchange have been encouraging companies to unwind cross-shareholdings, which have historically been used to strengthen commercial relationships but may shield management from shareholder scrutiny [3] - Toyota has a policy to reduce cross-held stakes but has faced criticism from investors regarding governance standards and capital allocation [4] - The proposed divestment is intended to demonstrate Toyota's commitment to governance reform [4] Group 3 - Activist investor Elliott has opposed a separate transaction involving Toyota Industries, claiming it is undervalued and lacks transparency, leading Toyota to extend the offer deadline to March 2 due to insufficient shareholder support [5] - Toyota Motor North America has partnered with Treehouse to assist customers of 2026 and newer Toyota and Lexus electrified vehicles in the US with home EV charger purchasing and installation support [5][6] - The partnership covers battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs), with Treehouse managing the installation process for Level 2 AC home charging [6]

Market Overview - New vehicle sales in the Philippines declined by 10% to 33,696 units in January 2026 from 37,504 units in January 2025, indicating a slowdown after three years of strong growth [1] - The decline in January sales followed a sharp slowdown in economic growth to 3.0% year-on-year in Q4 2025, down from 3.9% in Q3 2025, marking the slowest growth rate since 2021 [2] Economic Factors - Consumer spending growth slowed to 3.8% year-on-year in Q4 2025 from 4.1% in Q3 2025, while government spending growth decreased to 3.7% from 5.8% [3] - Fixed investment shrank by 7.2% in Q4 2025, following minimal growth of 0.5% [3] - The central bank has reduced its benchmark interest rate to 4.25% over the last two years from a peak of 6.5% in mid-2024 to stimulate domestic consumption [3] Vehicle Sales Breakdown - Sales of passenger cars fell by 20% to 6,178 units, while commercial vehicle sales declined by 8% to 27,518 units, with light commercial vehicle sales down by 9% to 20,392 units and Asian utility vehicle sales down by 7% to 6,253 units [4] - Truck and bus sales amounted to 873 units [4] Electrified Vehicle Sales - Sales of electrified vehicles surged by 63% to 2,610 units in January, with hybrid-electric vehicle (HEV) sales rising by 43% to 2,072 units [5] - Sales of plug-in hybrids and battery electric vehicles (BEVs) were 277 and 261 units respectively [5] Market Forecast - GlobalData expects the Philippine light vehicle market to increase by 2% to 499,000 units in 2026, following a growth of almost 4% to 489,000 units in 2025, with a further forecasted increase of 4% to 521,000 units in 2027 [6]

Group 1: Global Sales Performance - Toyota Motor Corporation reported a 3.1% year-on-year increase in global sales to 993,356 vehicles in December 2025, with sales in Japan rising by 8.8% to 148,721 units and overseas sales up by 2.2% to 844,635 units [1] - For the entire year of 2025, Toyota Group's sales increased by 4.6% to 11,322,575 units, with Japan sales rising by almost 12% to 2,071,254 units and overseas sales increasing by 3.1% to 9,251,321 units [2] - Combined sales of Toyota- and Lexus-branded vehicles increased by 3.7% to 10,536,807 units, with North America sales rising by 7.3% to 2,929,660 units, while Latin America sales fell by 3.2% to 472,049 units [3] Group 2: Electrified Vehicle Sales - Global sales of electrified vehicles by Toyota and Lexus rose by 10.2% to 4,994,894 units in 2025, accounting for over 47% of total sales, with battery electric vehicles (BEVs) sales increasing by over 42% to 199,137 units [4] Group 3: Subsidiary Performance - Daihatsu's global sales increased by almost 26% to 675,285 units, with Japan sales rebounding by 46% to 536,566 units, while overseas sales fell by 18% to 138,719 units [5] - Hino Motors reported a 12% decline in global sales to 110,483 units, with Japan sales falling by almost 19% to 33,425 units and overseas sales declining by almost 9% to 77,058 units [5]

Core Insights - Toyota Motor Corporation reported a 3% year-on-year increase in global sales to 1,003,631 vehicles in October 2025, with both domestic and international sales rising by 3% [1][2] Group 1: Sales Performance - In the first ten months of 2025, Toyota Group's sales rose by 5.5% to 9,362,057 units, with domestic sales increasing by over 13% to 1,745,403 units and overseas sales up by 3.8% to 7,616,654 units [2] - Sales of Toyota- and Lexus-branded vehicles increased by 4.5% to 8,705,094 units year-to-date, with Japan's sales rising by 4.5% to 1,265,631 units and overseas sales also up by 4.5% to 7,439,463 units [3] - North America saw a 7.7% increase in sales to 2,416,597 units, while Latin America (excluding Mexico) experienced a modest rise of 0.8% to 403,629 units [3] Group 2: Electrified Vehicle Sales - Global sales of electrified vehicles from Toyota and Lexus rose by 12.5% to 4,131,758 units in the first ten months of the year, accounting for 47% of total sales [4] - Sales of battery electric vehicles (BEVs) surged by over 30% to 154,512 units, predominantly sold overseas, while hybrid electric vehicles (HEVs) saw a 9.5% increase to 3,675,577 units [4] Group 3: Subsidiary Performance - Daihatsu's global sales increased by 29% to 564,562 units year-to-date, with domestic sales rebounding by 54% to 451,309 units, although overseas sales fell by 21% to 113,253 units due to weak demand in Indonesia [5] - Hino Motors, the commercial vehicle unit, reported a 10% decline in global sales to 92,401 units, with domestic sales dropping by almost 18% to 28,463 units and overseas sales declining by 6.5% to 63,938 units [5]

Core Insights - BYD, China's largest automaker, experienced a significant 20% year-on-year decline in global vehicle sales in October, totaling 429,808 units compared to 536,134 units a year earlier, indicating a sharp deterioration in market performance [1][5] Sales Performance - Sales of battery electric vehicles (BEVs) saw a slowdown, increasing by just over 6% to 219,382 units, while sales of plug-in hybrid vehicles plummeted by over 37% to 204,792 units. Additionally, the company sold 5,634 commercial vehicles, marking a 164% year-on-year increase [2] - Despite the October decline, BYD's global vehicle sales for the first ten months of the year were still up by over 10% to 3,643,377 units, driven by strong performance in the first half. This included a 30% increase in BEV sales to 1,797,558 units, while plug-in hybrid vehicle sales fell by almost 6% to 1,798,082 units. The company also sold 47,737 commercial vehicles year-to-date, up nearly fourfold year-on-year [3] Financial Performance - In the third quarter of 2025, BYD reported a 33% year-on-year drop in net profits to CNY 7.8 billion (approximately US$1.1 billion), marking the second consecutive quarterly decline due to intense price competition in both domestic and overseas markets [4] - Revenues decreased by 3% to CNY 195 billion in the third quarter, while global vehicle sales fell by 1.8% to 1,114,192 units, representing the first year-on-year decline in over four years. However, for the first nine months of the year, revenues increased by 12.7% to CNY 566 billion, while net profits fell by 7.5% to CNY 23.3 billion [5]

Core Insights - Toyota Motor Corporation reported a 2.8% year-on-year increase in global sales to 949,153 vehicles in September 2025, with a notable 4.2% rise in overseas sales to 769,028 units, while domestic sales in Japan decreased by 2.8% to 180,125 units [1] - In the first nine months of 2025, total sales for Toyota Group rose by 5.8% to 8,358,426 units, with Japan's sales increasing by nearly 15% to 1,545,358 units and overseas sales up by 3.9% to 6,813,068 units [2] - Year-to-date global sales of Toyota and Lexus vehicles increased by 4.7% to 7,783,007 units, with North America showing a 7.1% increase to 2,171,163 units and Asia (excluding Japan) rising by 3.7% to 2,367,645 units [3] Sales Performance - Global sales of electrified vehicles from Toyota and Lexus rose by 14% to 3,703,634 units in the first nine months, making up 48% of total sales, with battery electric vehicles (BEVs) increasing by over 26% to 136,190 units [4] - Daihatsu's global sales surged by 31% to 492,210 units year-to-date, with a significant rebound in Japan where sales increased by 59% to 391,248 units, although overseas sales fell by 23% to 100,962 units [5] - Hino Motors, part of the Toyota Group, experienced a 10% decline in global sales to 83,209 units, with domestic sales dropping by almost 17% to 25,985 units and overseas sales decreasing by over 5% to 57,224 units [5]

Sales Performance - Toyota Motor Corporation reported a 1.2% year-on-year rise in global sales to 900,598 vehicles in August 2025, with a 3.7% increase in overseas sales to 766,151 units, while sales in Japan fell by over 10% to 134,447 units [1] - In the first eight months of 2025, Toyota Group sales increased by 6.2% to 7,409,273 units, with sales in Japan rising by almost 18% to 1,365,233 units, and overseas sales increasing by 3.9% to 6,044,040 units [2] - Global sales of Toyota- and Lexus-branded vehicles increased by 5.0% to 6,903,693 units year-to-date, with sales in Japan rising by almost 7.3% to 999,963 units, and overseas sales increasing by 4.6% to 5,903,730 units [3] Regional Sales Insights - Sales in North America increased by 6.6% to 1,953,095 units, while sales in Latin America (excluding Mexico) rose by 3.7% to 328,472 units [3] - In Asia (excluding Japan), deliveries rose by 4.3% to 2,088,133 units, mainly driven by strong growth in China, India, and Vietnam [3] - In Europe, sales increased by just 1.7% to 782,486 units [3] Electrified Vehicle Sales - Toyota and Lexus reported a 16% rise in global sales of electrified vehicles to 3,291,057 units in the first eight months of the year, accounting for 48% of total sales [4] - Sales of battery electric vehicles (BEVs) rose by over 21% to 117,031 units, almost all of which were sold overseas, while sales of hybrid electric vehicles (HEVs) rose by 13% to 2,936,932 units [4] Subsidiary Performance - Daihatsu's global sales surged by 36% to 431,667 units year-to-date, with sales in Japan rebounding by 71% to 342,159 units, while overseas sales dropped by 24% to 89,508 units [5] - Hino Motors reported an almost 9% decline in global sales to 73,913 units, with sales in Japan falling by 15% to 23,111 units, and overseas sales declining by 5.4% to 50,802 units [5]

Core Insights - The value of built-up vehicle exports from South Korea increased by 8.6% year-on-year to US$ 5.5 billion in August 2025, driven by strong demand for electrified vehicles, particularly in key European markets [1] Export Performance - Exports to North America decreased by 8.3% to US$ 2.55 billion, with a 15% drop in shipments to the US, totaling US$ 2.1 billion, influenced by the ramp-up of production at Hyundai's new assembly plant in Savannah, Georgia [2] - A significant 54% increase in exports to the European Union was noted, reaching US$ 792 million, with shipments to Germany and the Netherlands more than doubling, and exports to the UK rising by 116% to US$ 250 million [3] - Exports to Asia grew by over 9% to US$ 591 million, while shipments to the Middle East reached US$ 369 million (+10%) and to Oceania US$ 344 million (+20%) [3] Volume and Vehicle Types - Total vehicle exports by volume rose by 5.5% to 200,317 units, with Hyundai Motor Group's brands and General Motors Korea contributing significantly to the shipments [4] - Shipments of electrified vehicles, primarily battery electric vehicles (BEVs) and hybrids, surged by nearly 27% to 69,000 units [4] - For the first eight months of 2025, the total value of new vehicles exported from South Korea amounted to US$ 47.7 billion [4]