Toyota Motor Corporation reported a ninth consecutive month of decline in global production for October, primarily due to significant reductions in output in the United States and China.
However, the 0.8 per cent decrease, amounting to 893,164 vehicles, marked an improvement compared to the steeper 8 per cent drop recorded in September.
In contrast to the production decline, Toyota achieved a milestone in global sales. The automaker reported a 1.4 per cent increase, reaching 903,103 vehicles sold—setting a record for October and marking the first sales growth in five months.
The decline in U.S. production was pronounced, dropping 13 per cent due to a four-month halt in manufacturing the Grand Highlander and Lexus TX SUV models.
This suspension, caused by an airbag issue, ended on October 21, with operations at Toyota’s Indiana plant expected to normalize by January 2024.
In China, where Toyota faces stiff competition from local automakers, production fell by 9 per cent. Similarly, in Thailand, output declined by 13 per cent, reflecting subdued demand in the region according to Reuters report.
Despite challenges in some markets, Toyota experienced a rebound in Japan, which accounts for roughly one-third of its global output. Domestic production rose 8 per cent, recovering from last year’s disruptions caused by an accident at a supplier’s facility that impacted operations at multiple plants.
In Canada and Mexico, Toyota saw modest gains, with production increasing by 2 per cent in each country.
Toyota’s production and sales data include vehicles from its luxury Lexus brand but exclude output from group companies Hino Motors and Daihatsu Motor.