Toyota Motor Corporation, the world’s largest automaker, reported a continued decline in global production for October, marking its ninth consecutive monthly drop. Despite this trend, the company showed resilience with only a mild 0.8% year-on-year decline in production and a record-breaking 1.4% rise in global sales for October, signaling potential stabilization amidst ongoing challenges.
Toyota produced 893,164 vehicles in October, a slight improvement from September’s sharper 8% decline. This improvement suggests that the automaker may be addressing its production difficulties. Meanwhile, sales hit 903,103 units, marking the highest-ever figure for October and breaking a five-month streak of declining sales.
Regional disparities highlight Toyota’s multifaceted challenges:
United States: Production fell by 13% due to a four-month halt on the Grand Highlander and Lexus TX SUV models caused by an airbag issue. Production resumed on 21 October, with normalization expected by January at the Indiana plant.
- China: A 9% decline reflected fierce competition from local automakers in this critical market.
- Thailand: Production dropped 13% amid weaker regional demand.
- Japan: Domestic production surged by 8%, recovering from disruptions caused by a supplier accident last year. Japan now accounts for roughly one-third of Toyota’s global output.
North America (Canada and Mexico): Both markets saw a modest 2% production increase, suggesting relative stability. These figures, which include Toyota’s luxury Lexus models, exclude data from group subsidiaries Hino and Daihatsu.
Toyota’s challenges mirror broader issues in the automotive sector, including supply chain disruptions, semiconductor shortages, and regional economic uncertainties. Despite these hurdles, the automaker’s ability to curb production declines while achieving record sales demonstrates strategic adaptability.
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