Toyota’s global production for August marked a significant achievement, with a 4% increase compared to the same period in the previous year, reaching a new record of 798,771 vehicles. This growth reflects the resilience and recovery of the world’s largest automaker from the semiconductor and supply chain disruptions that plagued the industry last year. Notably, domestic production played a pivotal role in this success, surging by an impressive 22% from the previous year. This substantial increase in domestic output compensated for a slight 2% decline in overseas production.
Despite a recent setback caused by a malfunction that temporarily halted all domestic assembly plants for a day at the end of the previous month, Toyota demonstrated remarkable resilience, as the incident had minimal impact on overall production.
In India, Toyota experienced an astounding 321% increase in production, with production figures exceeding 32,000 vehicles. This remarkable growth can be attributed to Toyota’s strategic partnership with Suzuki Motor. Reuters also reported that Toyota has plans to further expand its presence in the Indian market by constructing a third car manufacturing plant.
August also witnessed a robust surge in global sales for Toyota, with a notable 9.8% increase, totaling 853,285 vehicles. This sales performance, another record for the month, includes Toyota’s luxury brand, Lexus.
However, not all markets experienced the same trend. In China, sales faced a decline of approximately 7%, while domestic sales in Toyota’s home market of Japan surged by an impressive 46%. Additionally, sales in the United States saw a healthy 15% increase, showcasing the automaker’s strong position in these markets.
Toyota’s commitment to electric vehicles (EVs) also shone through in August, with the sale of 11,880 battery EVs worldwide. This brought the total number of battery EVs sold during the first eight months of 2023 to approximately 65,000, with the majority of these sales taking place in overseas markets.