Toyota Motor Corp. produced 771,382 vehicles in October, down from a record of 887,733 the previous month, and warned of an uncertain outlook due to Covid and semiconductor shortages.
Output was up 23 percent from October 2021, when supply chains were disrupted by the spread of Covid in Southeast Asia, Toyota said in a statement Tuesday. The world’s biggest automaker is now adjusting some production in China, which is still gripped by the virus and related restrictions.
Toyota’s global sales also rose 23 percent from a year earlier in October, reaching a total of 832,373 vehicles.
Including subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., output and sales totaled 924,132 and 918,756 vehicles, respectively, Toyota said.
In early November, the company cut its global target for the fiscal year through March and stuck with a conservative profit outlook.
Toyota shares slipped 1.2 percent Tuesday in Tokyo. They’re down 4.6 percent this year.
Separately, Nissan Motor Co. said its global output fell 2.4 percent from a year earlier to 297,801 units in October, the first decline in four months, while sales dropped 13 percent. Honda Motor Co.’s global output increased 1.1 percent to 330,002 units last month versus a year earlier.
Image credits: Kentaro Takahashi/Bloomberg