Toyota Motor reported a record-breaking global production and sales performance during the April–September period, with a significant 12.8% increase in vehicle production worldwide compared to the same period last year.
This surge in production marked the first time in four years that Toyota reached such high levels of manufacturing output.
Impact of Chip Shortage Easing:
The easing chip shortage played a crucial role in enabling Toyota, the world’s largest carmaker by volume, to achieve an all-time high in sales, with 5.17 million vehicles sold domestically and internationally during the six-month period ending in September.
This represented a 9.1% increase from the previous year.
Production and Sales Milestone:
For the first time in a fiscal first half, both Toyota’s production and sales surpassed the $5 million mark, highlighting the company’s goal of exceeding $10 million in vehicle production and sales for the full fiscal year ending in March.
Regional Production and Sales Trends:
While Toyota witnessed increased production in North America and Japan, its production in China experienced a 7.3% decline, reflecting challenges in the market due to intensified competition with domestic rivals.
However, robust demand in Japan and other key markets, such as North America and Europe, drove overseas sales growth.
Rise in Electric Vehicle Sales:
Toyota’s emphasis on electric vehicles resulted in a significant sevenfold increase in global electric vehicle sales, reaching 58,984 units during the period.
Additionally, sales of electric, hybrid, and other battery-driven vehicles witnessed a notable 38.1% surge, underscoring the company’s commitment to a more diversified and environmentally friendly vehicle lineup.
Monthly Record Figures for September:
Toyota continued its upward trajectory in September, with monthly output rising by 1.5% and sales increasing by 11.6% compared to the same period last year, reaching record highs of 900,919 units and 921,308 cars, respectively.
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