Toyota Motor Corp said global production hit a record high in November thanks to strong consumer demand, but an uncertain outlook due to a persistent shortage of semiconductors and a surge in Covid cases in China. I warned you.
The world’s number one automaker, the company produced 833,104 cars last month. This is his 1.5% increase over the previous year. Global sales rose 2.9% to 796,484 units, the company said in a statement Monday.
Vehicle production reflects strong demand in regions such as North America and a recovery from a year ago when Covid infections in Southeast Asia disrupted supply chains. While plagued by parts shortages, it will also face challenges stemming from the rapid spread of COVID-19 across China.
In early November, Toyota lowered its global production target for the fiscal year ending March, but maintained a conservative profit outlook due to chip shortages.
According to a statement, Toyota’s domestic production in November decreased 3.3% year-on-year to 266,174 units, while overseas production increased 3.8% to 566,930 units. Including vehicles assembled by subsidiaries Daihatsu Motor and Hino Motors, production volume is 982,552 units and sales volume is 884,112 units.
Toyota shares rose 0.3% in Tokyo, falling only 13% this year.
Separately, Nissan Motor said global production in November fell 23% to 248,961 units from the same period last year, while sales fell 26%. Honda Motor Co.’s global production fell 12% to 325,996 units last month, falling below the same period last year for the first time in six months.