Despite continued production challenges, Toyota's global sales increased for the second straight month in November, driven by strong demand in key markets like the U.S. and China.
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| Toyota's global vehicle production declined for the 10th consecutive month in November, impacted by factors like plant halts and supply chain issues, despite a rise in worldwide sales. Image: Toyota |
Tokyo, Japan - December 25, 2024:
Toyota Motor's global production saw a decline for the 10th consecutive month in November, the company reported on Wednesday, despite an increase in worldwide sales. The automaker produced 869,230 vehicles globally in November, marking a 6.2% drop compared to the same month last year, a sharper decline than October's 0.8% decrease.
The drop in production was particularly pronounced in the U.S., where output fell by 11.8%. However, production of the Grand Highlander and Lexus TX SUV models resumed in late October after a four-month halt. In China, production decreased by 1.6%, though this was an improvement over the previous month's 9% drop. Toyota's stronger local sales of models like the Granvia and Sienna minivans, as well as the electric bZ3 sedan, helped offset some of the production challenges.
Amid growing competition from local brands like BYD, Toyota announced plans to build an independent plant in Shanghai to begin manufacturing electric cars for its Lexus luxury brand by 2027, according to the Nikkei newspaper.
In Japan, where Toyota typically produces about a third of its vehicles, production fell 9.3% in November, partly due to a two-day production halt at its Fujimatsu and Yoshiwara plants.
Despite production struggles, Toyota's global sales rose by 1.7% to a record 920,569 vehicles in November, marking the second consecutive month of growth. However, Toyota's total global output for the January-November period was down 5.2% year-on-year, totaling around 8.75 million vehicles, while sales decreased by 1.2%.
The figures include vehicles from Toyota’s Lexus brand but exclude those from group companies Hino and Daihatsu.