Toyota Motor Corp. said it produced 771,382 vehicles in October, down from a record 887,733 the previous month, and warned of an uncertain outlook due to shortages of Covid and semiconductors.
Production is up 23% since October 2021, when supply chains were disrupted by the spread of Covid in Southeast Asia, Toyota said in a statement on Tuesday. The world’s largest automaker is now adjusting some production in China, which is still affected by the virus and related restrictions.
Toyota’s global sales also rose 23% year-over-year in October, reaching a total of 832,373 vehicles.
Including subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., production and sales totaled 924,132 and 918,756 vehicles, respectively, Toyota said.
In early November, the company lowered its global target for the fiscal year through March and remained on a conservative earnings outlook.
Toyota shares fell 1.1% on Tuesday in Tokyo. They are down 4.5% this year.
Source: Bloomberg
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