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Toyota’s Nov global vehicle production rises 1.5% to record 833,104

TOKYO (Reuters) – Toyota Motor (NYSE:TM) Corp reported on Monday a 1.5% rise in November global vehicle output, reaching a new record of 833,104.

Domestic production slid 3.3% to 266,174 vehicles, while overseas output rose 3.8% to an all-time high of 566,930 for the month.

Global sales and production in November exceeded last year’s levels due to solid demand, particularly in North America, and a recovery in parts supplies that had been impacted by COVID-19 slowdowns, Toyota said.

The automaker reported earlier this month it expected to produce 700,000 vehicles in January and held to a reduced goal of 9.2 million in the year through March.

Toyota had previously expected to make 9.7 million autos this fiscal year, but was forced to lower the target in November as it struggles with rising materials costs and a shortage of semiconductors.

That’s still ahead of last year’s production of about 8.6 million units.

Source:reuters

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