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Toyota production down for 10th month in row, sales rise

by Reuters

TOKYO, Japan Dec 25, 2024 - 4:34 pm GMT+3
Visitors and salespeople sit inside a Toyota booth at the 41st Thailand International Motor Expo, Bangkok, Thailand, Nov. 29, 2024. (Reuters Photo)
Visitors and salespeople sit inside a Toyota booth at the 41st Thailand International Motor Expo, Bangkok, Thailand, Nov. 29, 2024. (Reuters Photo)
by Reuters Dec 25, 2024 4:34 pm

Global production of Japan's Toyota Motor declined for a 10th straight month in November, it said on Wednesday, although its worldwide sales grew for the second month in a row on solid demand in the United States and China.

The world's biggest automaker manufactured 869,230 vehicles globally in November, down 6.2% from the same month last year, a larger fall than October's 0.8% dip.

Toyota's U.S. output was down 11.8%, making a slow recovery, although the production of Grand Highlander and Lexus TX SUV models resumed in late October after a four-month stoppage.

China's production dropped 1.6%, which was, however, better than a 9% decline in the previous month, as Toyota saw higher local sales of its Granvia and Sienna minivan models and the electric sedan bZ3 jointly developed with BYD.

Amid the rise of BYD and other Chinese brands, Toyota decided to build an independent plant in Shanghai and start manufacturing electric cars for its Lexus luxury brand around 2027, the Nikkei newspaper reported on Monday.

In Japan, which accounts for about a third of Toyota's global output, production was down 9.3% in November due in part to a two-day production halt at its Fujimatsu and Yoshiwara plants.

Toyota saw its worldwide sales rise for a second straight month by 1.7% to 920,569 vehicles, setting a new record for the month of November.

From January to November, Toyota's global output was 5.2% lower than the same period last year, at around 8.75 million vehicles, while global sales were down 1.2%.

The production and sales figures include Toyota's Lexus-brand vehicles but exclude those of group companies such as Hino and Daihatsu.

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