Toyota Registers 44.3% Production Growth In August

Toyota Registers 44.3% Production Growth In August
  • Toyota Motor Corp TM said its global vehicle production for August rose 44.3% to 766,683 units.
  • August worldwide production, which includes Daihatsu and Hino, jumped 39.5% year-on-year to 885,812 units.
  • Worldwide sales for the month improved by 3.8%. Sales exceeded the previous year's level both globally and overseas due to a slump in sales caused by the spread of COVID-19 during the last year, primarily in Asia.
  • RelatedToyota Cuts October Production As Supply Chain Woes Continue
  • The update is a relief to the Japanese automaker as it inches towards a target of 9.7 million units in FY.
  • Also ReadToyota Targets Starting Sales Of Small Electric Sedan In China By 2022-End
  • TM plans to monitor the parts supply situation carefully and minimize sudden decreases in production as much as possible, as the situation remains difficult to predict due to semiconductor shortages and COVID-19.
  • Price Action: TM shares closed higher by 0.85% at $136.89 on Wednesday.
  • Photo Via Wikimedia Commons

Posted In: BriefsNewsGeneral