Toyota reports 0.8 percent decrease in global output last month

(MENAFN) Toyota Motor Corp. announced a 0.8 percent decrease in its global production for October 2024, totaling 893,164 units, marking the ninth consecutive month of decline. The drop follows an 8 percent decline in September, reflecting ongoing production challenges. Overseas production saw a more significant decrease of 4.9 percent, falling to 587,105 units, while production within Japan, which represents about a third of Toyota's global output, showed a positive trend, increasing by 8.3 percent to 306,059 units. This recovery was driven by the impact of a production halt caused by an accident at a parts supplier's facility the previous year.

Despite the production setbacks, Toyota recorded a 1.4 percent increase in global sales for October, reaching 903,103 units, marking a record high for the month. The rise in sales in Japan was particularly notable, climbing 7.1 percent, partly due to delays in vehicle deliveries that were rescheduled from September to October because of a typhoon. Overseas sales also grew slightly by 0.4 percent, reaching 759,555 units, with strong sales in India contributing to the positive performance.

The contrast between declining production and rising sales highlights Toyota's ability to navigate supply chain challenges while meeting customer demand, especially in key international markets. However, the ongoing challenges in global production, particularly in overseas markets, remain a key area of focus for the automaker as it looks to stabilize output in the coming months.

MENAFN28112024000045015839ID1108935210