toyota global vehicle output rises 44.3% in aug to record for month

TOKYO: Toyota Motor Corp said today its global vehicle production grew at a record pace for the month of August, as the sector recovered from the Covid-19 pandemic and production capacity increased, mainly overseas.

The announcement offers a bit of relief for the Japanese automaker, which has been under scrutiny over whether it can stick to its annual production target of 9.7 million vehicles, even as China dials back pandemic restrictions and chip shortages are showing some signs of easing.

Vehicle production soared 44.3% in August year-on-year, the first increase since March. The world’s largest automaker by sales produced 766,683 vehicles worldwide last month, above its target of around 700,000 and above year-ago output of 531,448.

Output increased mainly overseas, with domestic production up 5.6% year-on-year and overseas production jumping by 65.1% from a year ago, also a record rise for the month of August.

Toyota was able to secure more semiconductor components than anticipated primarily in Asia, a region where there is also strong demand from consumers, as chips shortage eased, a spokesperson said.

Still, Toyota said the outlook remained uncertain due to the global chips shortage and Covid-19 outbreaks.

Last week, the company said it plans to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages.

“The industry as a whole is experiencing ups and downs,” said Koichi Sugimoto, a senior analyst at Mitsubishi UFJ Morgan Stanley Securities Co. “It doesn’t mean that it’s no good at all, but it doesn’t mean that it is on a steady rise either. The situation is still unpredictable.”

Production in the first five months of the current fiscal year that started in April is now 6.7% short of the company’s initial plans, as opposed to 10.3% last month, according to Reuters calculation based on company data.

Overseas sales also hit a record for the month of August, driven by a rebound from a decline in sales last year due to coronavirus outbreaks in China and the rest of Asia.

Overseas sales rose by 8.9% in August year-on-year to 694,272 vehicles, while in Japan they fell by 25.8% to 82,775 vehicles because parts supply shortage and Covid-19 outbreaks disrupted production.

Toyota president Akio Toyoda is set to attend the US national dealers convention today in Las Vegas, marking his first in-person appearance before US dealers since the pandemic.

Toyota’s US production numbers went up by 11.9% in August year-on-year, the first increase since March, thanks to increases in production capacity and the fact that shortages of semiconductors and other components forced suspensions at US factories last year.

Its US sales, on the other hand, fell 9.8% last month.

Keyword: Toyota global vehicle output rises 44.3% in Aug to record for month

CAR'S NEWS RELATED

Is 2023 Toyota Camry TRD a Good Sports Car Alternative?

2023 Toyota Camry TRD: Is it fast? Performance features in the sports car-like 2023 Camry TRD 2023 Camry TRD: Unique design features Roomy interior makes the Toyota Camry TRD a practical alternative to sports cars Many standard driving assistance features in the 2023 Camry TRD Toyota Camry TRD is ...

View more: Is 2023 Toyota Camry TRD a Good Sports Car Alternative?

Toyota announces unchanged driver line-up for 2023 WEC season

The Japanese manufacturer announced on Friday that Kamui Kobayashi, Mike Conway and Jose Maria Lopez will again race the #7 Toyota GR010 HYBIRD and that reigning champions Sebastien Buemi, Brendon Hartley and Ryo Hirakawa will stay together in the #8 Le Mans Hypercar. Lopez, who won the WEC title with ...

View more: Toyota announces unchanged driver line-up for 2023 WEC season

Toyota Vios dominates the Sepang 1,000km race with a historic 1-2 finish

It was a masterclass in domination for the humble Toyota Vios as it proved its mettle on the racetrack with a historic 1-2 finish at the Sepang 1,000KM endurance race and a total of three Toyotas in the top 5 overall positions. The 9-hour race concluded with Toyota Gazoo ...

View more: Toyota Vios dominates the Sepang 1,000km race with a historic 1-2 finish

Higher specs than Indonesia, 2023 Toyota Innova launched in India with HyCross name

Just weeks after its global debut in Indonesia, India has launched the all-new 2023 today. If you have watched enough Hindi movies or news clips from India, you would know that the Toyota Innova is viewed very differently over there. In India, the Innova is almost on par with ...

View more: Higher specs than Indonesia, 2023 Toyota Innova launched in India with HyCross name

Toyota Innova Hycross unveiled in India; bookings open

The Toyota Innova Hycross will be sold alongside the Innova Crysta. Following its launch in the Indonesian market, the Toyota Innova Hycross has now been unveiled in India. Toyota has also opened the order books and customers can book the car by paying a token amount of Rs 50,000. ...

View more: Toyota Innova Hycross unveiled in India; bookings open

Toyota Innova Hycross Debuts In India – 21.1 Kmpl Mileage ARAI

New Toyota Innova Hycross gets a sportier front fascia, spruced-up interiors, enhanced safety and a 2.0-litre petrol motor with hybrid option Innova Hycross dimensions, features Toyota Innova Hycross powertrain, mileage New Toyota Innova Hycross gets a sportier front fascia, spruced-up interiors, enhanced safety and a 2.0-litre petrol motor with ...

View more: Toyota Innova Hycross Debuts In India – 21.1 Kmpl Mileage ARAI

Toyota Motor PH To Continue Assembling All-New Vios In The Philippines

It seems that Toyota Motor Philippines will be assembling the all-new Vios sub-compact sedan locally, after all. The Manila Bulletin reports that under the Comprehensive Automotive Resurgence Strategy (CARS) program, Toyota has applied for the local production of the full model change Vios. As a participant to the CARS ...

View more: Toyota Motor PH To Continue Assembling All-New Vios In The Philippines

Does the 2022 Honda Passport Even Compare With the 2022 Toyota 4Runner?

2022 Honda Passport and 2022 Toyota 4Runner powertrain options 2022 Honda Passport and 2022 Toyota 4Runner interior amenities 2022 Honda Passport and 2022 Toyota 4Runner safety standards Why would shoppers prefer the Honda Passport over the Toyota 4Runner? Why would shoppers prefer the Toyota 4Runner over the Honda Passport? ...

View more: Does the 2022 Honda Passport Even Compare With the 2022 Toyota 4Runner?

6 Toyota Models Dominate the Least Expensive Cars to Maintain

Toyota Hilux and Ford Ranger utes to go electric as pricing revealed for mass EV conversions

Watch: Toyota Prius has just got good, but it's too late for NZ! Zooming with DRIVEN EP111

First Drive: 2023 Toyota GR Corolla

Toyota Sienna or Honda Odyssey: What’s the Most Reliable Minivan?

Which Toyota Agya trim holds its value better?

Look out Toyota Prado! Nissan says its toughened-up Pathfinder will lure customers from the top-selling large SUV, as well as Ford Everest and Isuzu MU-X

Toyota Innova Hycross Base Variant Detailed – First Look

Is The New Toyota Tundra Still Suffering Turbocharger Failures?

Do you know that myToyota Connect now links your car to your phone?

Toyota bZ Compact SUV Concept unveiled at 2022 LA auto show

The most reliable car makers in the UK - Ford, Honda, Toyota and more

OTHER CAR NEWS

;
Breaking thailand news, thai news, thailand news Verified News Story Network