Toyota Says It’s Recovered From Covid-Era Constraints
Notwithstanding Tuesday’s plants shutdown in Japan, it’s enjoying an upswing in sales, production.
Toyota's worldwide sales increased 8% year-over-year for the month to nearly 860,000 units.
IMAGE: Toyota
Toyota said its sales and production rose in July as it rebounded from pandemic-fueled chip shortages.
The news came a day after its 14 plants in Japan shut down due to a system failure; production resumed today.
Its worldwide sales increased 8% year-over-year for the month to nearly 860,000 units, including the Lexus luxury brand. Sales outside Japan rose 3.7%.
Worldwide production jumped about 15%, 3.3% outside Japan, achieving record highs, Toyota said, citing improved capacity.
The sales increase continues a six-month upward trajectory.
Tuesday’s manufacturing shutdowns in Japan temporarily put the brakes on the surge. Two sources told Reuters that they happened during a parts-ordering system update, though a company spokesperson wouldn’t confirm or deny that.
Originally posted on Auto Dealer Today
More Industry
Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →