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Toyota output hits record high for August as parts crunch eases

Toyota Motor Corp said Thursday its global output in August rose 44.3 percent from a year earlier to 766,683 vehicles, a record high for the month, as the negative impacts of a semiconductor shortage and Shanghai's COVID-19 lockdown eased.
The first year-on-year production increase in five months came as the Japanese automaker has tried to fortify its supply chains in the face of a global parts crunch that has forced automakers worldwide to slash production.
The company has increased communication with its suppliers to secure necessary semiconductors and ramped up production capacity in North America and China, according to Toyota.
Overseas production grew 65.1 percent to 570,645 cars, with output doubling in China and increasing 24.6 percent in North America. Domestic production rose 5.6 percent to 196,038 vehicles.
As a result, global output in August exceeded the target of 700,000 vehicles set in mid-July, the company said, though it fell short of the forecast of 850,000 units it made at the beginning of the year.
The automaker's global sales climbed 3.8 percent to 777,047 units, the first increase in a year, due to an 8.9 percent rise in overseas sales, which logged a record high for August of 694,272 vehicles.
Meanwhile, domestic sales, including of minivehicles, fell 25.8 percent to 82,775 units due to the lingering effect of a prolonged production cut on its supply of new cars.
While still reeling from the negative effects, Toyota said it expects the easing of the parts crunch to continue and plans to accelerate production further toward the end of fiscal 2022 ending March.


© KYODO
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