Toyota Registers 44.3% Production Growth In August - Toyota Motor (NYSE:TM)

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.
Related: Toyota 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 Read: Toyota 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.
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