Japan’s Toyota Motor’s global production in July increased by 11%

 

Toyota Motor Corporation announced on the 30th that its global production for July was 773,135 vehicles, an increase of 11.9% over the same period of the previous year, an increase of 11 consecutive months. The background reason is that the global economy is gradually recovering from the new crown epidemic. However, the impact of the global shortage of semiconductors and the expansion of the new crown epidemic in Southeast Asia caused the stagnation of parts and components procurement, and the year-on-year growth rate has narrowed compared with June (41.2%).

Starting in August, the difficulty in procurement of parts and components has become more severe, and the blow to production is expected to be fully manifested. Although the promotion of alternative production and other countermeasures, there is no hope to solve the problem, Toyota is facing a test.

In July production, overseas sales increased 6.1% to 463,997 units. Thanks to increased production in China and others, production in Asia increased by 9.1%, but North America, where the impact of semiconductor shortages was partially manifested, decreased by 2.4%. In Japan, an increase of 21.8% to 309,138 units.

Global sales increased by 14.9% year-on-year to 858,569 vehicles. It has grown year-on-year for 11 consecutive months and hit a new single-month high in July. In the main North American market, sales of the sports utility vehicle (SUV) “RAV4” and other sales have increased significantly. In Japan, the small cars “Yaris” and “ROOMY” are selling well.

Specifically, overseas sales increased by 16.0% to 718,762 units. Domestic sales in Japan, including mini vehicles, increased by 9.4% to 139,807 units.

Regarding the lack of semiconductors, Toyota stated that it has “limited impact on production in July,” but it also announced its policy that it will reduce global production by 40% from the original plan due to difficulties in procurement of parts and components due to the new crown epidemic in September. Toyota believes that the severe situation will continue for some time.