Toyota Global Production Falls for Tenth Straight Month, Sales Continue to Rise

TDT | Manama

Email: mail@newsofbahrain.com

Toyota Motor Corporation announced on Wednesday that its global production declined for the tenth consecutive month in November, even as the company's worldwide sales grew for the second month in a row, driven by strong demand in the United States and China.

The world's largest automaker reported a global production total of 869,230 vehicles for November, marking a 6.2% drop compared to the same month last year. This decline was steeper than the 0.8% dip recorded in October.

In the United States, Toyota's production fell by 11.8%, reflecting a slow recovery despite the resumption of Grand Highlander and Lexus TX SUV production in late October, following a four-month halt.

In Japan, which accounts for roughly one-third of Toyota's global output, production saw a 9.3% decline in November. The decrease was partially attributed to a two-day production stoppage at the company's Fujimatsu and Yoshiwara plants, according to Reuters.

Despite these production challenges, Toyota's global sales rose by 1.7% in November, reaching 920,569 vehicles and setting a new record for the month. The sales growth was bolstered by robust consumer demand in key markets such as the U.S. and China.

For the January-to-November period, Toyota's global production totaled approximately 8.75 million vehicles, 5.2% lower than the same period in 2022. Meanwhile, global sales during this time were down by 1.2% year-on-year.

The mixed performance highlights Toyota's ongoing challenges in balancing production with increasing market demand, as the automaker navigates supply chain disruptions and operational hurdles.