Toyota production up 9% in January, chip pain still lingers
Reuters
Published Feb 26, 2023 11:33PM ET
Updated Feb 27, 2023 05:25AM ET
TOKYO (Reuters) -Toyota Motor Corp boosted global vehicle production by 9% in January, it said on Monday, its first increase in two months even as the car maker continued to feel the strain from global chip shortages.
The company, which is the world's largest automaker by volume, and other car manufacturers are still grappling with tight supplies of chips, although the constraint has eased from a year earlier, when pandemic-related lockdowns sharply hit supplies of semiconductors.
Toyota said it produced 689,090 vehicles globally in January, an 8.8% increase from the same month last year and just short of the 700,000 vehicles it previously said it expected to produce for the month.
That does not include production from its Daihatsu Motor Co and Hino Motors Ltd units.
Global sales slipped 5.6% to 709,870 vehicles, Toyota said, reflecting the continued impact of the chip shortage.
Smaller rival Nissan (OTC:NSANY) Motor Co Ltd said its January production fell by a quarter to 224,236 vehicles.
Honda Motor Co Ltd said output fell 21.7% in January to 280,757 vehicles.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.