Toyota Reports Record Global Sales And Production As Chip Woes Recede

Toyota Motor Corporation (OTC:TOYOF) has reported a significant year-on-year increase in its global sales and production for the first half of FY2024, attributing this rise to the easing of semiconductor shortages.

According to a Monday announcement, the Japanese auto giant experienced record highs in both sales and production from April to September 2023. Toyota recorded worldwide sales of 5,596,183 vehicles, while production stood at 5,738,126 during the period.

This surge is a testament to the company’s improved production capacity across all regions and its effective response to robust demand.

Compared to the previous year, which saw the global market grappling with the impact of the COVID-19 pandemic and semiconductor shortages, Toyota’s performance in the first half of FY2024 has far exceeded expectations.

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“We will continue to carefully monitor the parts supply situation and make every effort to deliver as many vehicles as possible to our customers at the earliest date,” the company said in the announcement.

The results also encompass those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd.. Comprehensive details on sales, production, and export results by country and region, as well as information on electrified vehicle sales and Lexus sales, are available in the document titled “Detailed data” on the company’s official website.

The eased semiconductor shortage, coupled with the company's effective strategies, has played a crucial role in facilitating this significant growth.

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