Investing
Toyota’s global sales notch up a February record as parts shortage eases
© Reuters. FILE PHOTO: A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron
TOKYO (Reuters) – Toyota Motor (NYSE:) Corp said on Thursday that global sales hit a record for the month of February as it bounced back from severe pandemic-induced parts shortages, adding that worldwide production also increased for a second straight month.
Japan’s biggest automaker said in a statement, however, that shortages of parts continue to be a problem. During the pandemic, it fared better than most car makers in managing supply chains, but even so ended up cutting monthly production targets repeatedly last year.
Last month, its global sales jumped 10.3% to 773,271 vehicles, driven by a blistering 53.2% climb in domestic sales. That compares with a particularly weak February last year when sales sharply declined due to a lack of semiconductors.
It said worldwide production of Toyota-branded vehicles rose 2% to 755,839, slightly ahead of its goal of 750,000. The increase comes after an 8.8% jump in January.
Domestic production continued to show a strong recovery, climbing 11.2% in February after a 30.1% surge in January.
Read the full article here
-
Side Hustles5 days ago
3 Steps You Can’t Miss When Growing Your Business
-
Make Money6 days ago
15 Jobs That Will Shrink the Fastest Over the Next Decade
-
Side Hustles6 days ago
How to Maximize Your Profits With This Annual 8-Step Checklist
-
Passive Income6 days ago
Why Email Marketing Is Still Your Business’s Most Powerful Tool
-
Side Hustles6 days ago
Want to Start a Business? Consider Buying One Instead — Here’s Why.
-
Investing6 days ago
Netherlands stocks lower at close of trade; AEX down 0.80% By Investing.com
-
Investing5 days ago
Germany stocks lower at close of trade; DAX down 0.65% By Investing.com
-
Investing5 days ago
How I Transformed My Business by Letting Go of Low-Value Tasks