Toyota's August Sales and Production Reach All-Time High

author: FutureCar Staff    

Toyota's global sales surged 9% in August, reaching a new high of 923,180 vehicles. This increase was driven by enhanced supply conditions and heightened demand, resulting in record output.

In the U.S., Toyota's sales saw a significant jump of 15%, while domestic sales increased by an impressive 46%. However, sales in China declined by roughly 7%.

Despite a 2% decrease in overseas output, Toyota's overall production rose 4% thanks to a 22% increase in domestic production compared to the previous year. This growth highlights the company's recovery from last year's semiconductor and supply chain challenges. Furthermore, a recent glitch that suspended domestic assembly plants for a day had no impact on production numbers.

India witnessed a remarkable increase in production numbers, with a jump of 221% to slightly above 32,000 vehicles. This growth can be attributed to Toyota's collaboration with Suzuki Motors. As a result, the carmaker plans to build a third plant in India, expanding its production capacity to around 200,000 vehicles.

In terms of electric vehicle sales, Toyota sold 11,880 battery-run EVs in August, bringing the total for this year to 65,467 units. This is a significant improvement compared to the 24,000 units sold in 2022. However, it falls short of the ambitious target set by Chief Executive Officer Koji Sato, who aimed for annual sales of 1.5 million EVs by 2026.

Despite these impressive numbers, Toyota's stock was down roughly 0.3% in early market trading on Thursday.

FutureCar Staff