Toyota cemented its position atop the world’s automaking giants, producing a record 10.7 million cars as a group for the 12 months ended March 31 thanks to increased capacity and production optimisation in North America and Asia.
Global sales, which includes brands like Daihatsu and Hino, came in at 10.6 million units, up 1.7% on strong demand, Toyota said in a statement on Thursday.
Output of Toyota-branded cars and Lexus models was 9.13 million units, broadly in line with what the company had forecast earlier.
A better supply of chips after the prolonged worldwide semiconductor dearth helped Toyota move away from Covid-induced production snarls. Though a bellwether for the rest of the global automobile industry and its suppliers, Toyota is under increasing pressure from companies that are ploughing headlong into pure electric cars, like Tesla and Chinese behemoth BYD.
Recently installed CEO Koji Sato has said he remains confident that selling EVs alongside hybrid and petrol-powered cars offers the best chance of securing the Japanese carmaker’s future.
Domestic production and sales for the 12-month period rose 1.3% and 2.4%, respectively, to 3.8 million unit and 2 million units. For March, Toyota’s global production jumped 4.2% to a fresh high of 1.1 million vehicles, while sales climbed 2.4% to 1 million.
Shares in Toyota were up 1.2% on Thursday.
Separately, Honda said its global output for the 2022 fiscal year was 3.8 million vehicles; sales tumbled 17% to 3.6 million units.
Nissan’s global production dipped 3.7% to 3.3 million vehicles, while sales sunk 17% to 3.2 million, the company said Thursday.
More stories like this are available on bloomberg.com
Toyota's output hits record high as supply chains untangle
Image: Bloomberg
Toyota cemented its position atop the world’s automaking giants, producing a record 10.7 million cars as a group for the 12 months ended March 31 thanks to increased capacity and production optimisation in North America and Asia.
Global sales, which includes brands like Daihatsu and Hino, came in at 10.6 million units, up 1.7% on strong demand, Toyota said in a statement on Thursday.
Output of Toyota-branded cars and Lexus models was 9.13 million units, broadly in line with what the company had forecast earlier.
A better supply of chips after the prolonged worldwide semiconductor dearth helped Toyota move away from Covid-induced production snarls. Though a bellwether for the rest of the global automobile industry and its suppliers, Toyota is under increasing pressure from companies that are ploughing headlong into pure electric cars, like Tesla and Chinese behemoth BYD.
Recently installed CEO Koji Sato has said he remains confident that selling EVs alongside hybrid and petrol-powered cars offers the best chance of securing the Japanese carmaker’s future.
Domestic production and sales for the 12-month period rose 1.3% and 2.4%, respectively, to 3.8 million unit and 2 million units. For March, Toyota’s global production jumped 4.2% to a fresh high of 1.1 million vehicles, while sales climbed 2.4% to 1 million.
Shares in Toyota were up 1.2% on Thursday.
Separately, Honda said its global output for the 2022 fiscal year was 3.8 million vehicles; sales tumbled 17% to 3.6 million units.
Nissan’s global production dipped 3.7% to 3.3 million vehicles, while sales sunk 17% to 3.2 million, the company said Thursday.
More stories like this are available on bloomberg.com
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