Toyota’s August Global Output Increases Due to Stronger Domestic Production, According to Reuters

TOKYO (Reuters) – Toyota Motor announced that its global production increased by 4% compared to the same period last year, reaching 798,771 vehicles, which marks a record for August.

The company’s domestic production surged by 22% year-on-year, compensating for a 2% decline in overseas production. This growth underscores Toyota’s recovery from the semiconductor shortages and supply chain issues experienced in the previous year.

Despite a recent malfunction that halted operations at all domestic assembly plants for a day, production remained largely unaffected. In India, Toyota experienced a remarkable 321% increase in production, largely due to its partnership with Suzuki Motor, totaling just over 32,000 vehicles. Reports indicate that the automaker plans to establish a third car plant in India.

In terms of sales, Toyota saw a 9.8% increase in global sales in August, reaching 853,285 vehicles—another record for the month. The production and sales figures include those from Toyota’s luxury brand, Lexus.

In China, however, sales encountered a decline of approximately 7%. Conversely, domestic sales in Japan experienced a significant rise of about 46%, while sales in the United States increased by 15%.

Notably, in August, Toyota sold 11,880 battery electric vehicles (EVs) worldwide, bringing the total sales of battery EVs for the first eight months of 2023 to around 65,000, predominantly in international markets.