Trio of Japanese marques record year-on-year rises for global output but the outlook remains uncertain.
Toyota’s global output increased for the first time in five months in August as the automotive industry recovers from the Covid-19 pandemic and production capacity increased.
The Japanese carmaker says it produced 766,683 vehicles in August, which was 44 per cent more than the same month a year ago.
Its global sales over the same timeframe also grew 3.8 per cent to 777,047 units, the first increase for the company in 12 months.
Toyota’s output in Japan increased 5.6 per cent year-on-year but overseas production soared by a record 65.1 per cent for August.
The marque says it was able to secure more semiconductor components than anticipated, particularly in Asia.
However, it warns the outlook remains uncertain because of Covid-19 outbreaks, supply chain problems and microchip shortages.
Toyota is sticking to its production target of 9.7 million vehicles for the fiscal year to the end of March 2023. This is despite it recently announcing October’s global output was being trimmed to about 800,000 units, which is about 100,000 short of its average monthly targets.
Meanwhile, rival Nissan says its global output rose for a second month in August, climbing 9 per cent from a year earlier to 288,218 vehicles. However, vehicle sales fell 16 per cent to 254,842 units.
Honda’s production levels increased 27 per cent to 347,661 units, the third consecutive month of gains for the company.
Keyword: Toyota production soars