Toyota’s global production has exceeded 2024 for two consecutive months

Toyota Motors announced on March 28 that its global production (including Lexus) in February increased by 6% year-on-year to 779,790 vehicles. The impact of the suspension of shipments caused by Toyota’s automatic loom certification fraud in 2024 has come to an end, and domestic production in Japan has increased by 16%. Overseas sales increased by 1% to 493,418 vehicles, setting a new record high in February. Global sales increased by 6% to 761,717 vehicles.

Domestic production in Japan increased by 16% to 286,372 vehicles. In 2024, Toyota’s automatic loom was exposed to automobile engine certification fraud. From January 29 to March 3, Toyota stopped production in up to 4 factories and a total of 6 production lines in its domestic vehicle factories in Japan. The production of “Alpha” and others has stopped, but this year this impact has disappeared.

Overseas, by region, Toyota’s production in China increased by 26%, a large increase. Due to the different impact of the long Lunar New Year holiday period from last year, there are more working days than last year. Mexico, which had a lower production last year, saw a 98% increase.

In terms of sales, the recovery in Japan played a driving role. Domestic sales in Japan increased by 28% to 133,287 units. Overseas sales increased by 2% to 628,430 units, exceeding the previous year for the first time in three months and setting a record high for February. By region, North America fell by 7%. Although demand itself was strong, the lack of inventory of hybrid vehicles (HV) had an impact. In China, sales increased by 15%, benefiting from government subsidies for car purchases.

Toyota’s global electric vehicle sales increased by 25% to 373,348 units, of which HVs increased by 23%, plug-in hybrid vehicles (PHVs) increased by 11%, and pure electric vehicles (EVs) increased by 19%.

The number of exports from Japan increased by 13% to 170,204 units. Exports to the United States fell by 2% to 51,439 units, exports to Europe fell by 17% to 23,296 units, and exports to China fell by 8% to 14,069 units. Although the main markets decreased, the growth in Asia (up 22%), Oceania (up 23%) and the Middle East (up 60%) contributed.

In March, an explosion occurred at a Toyota factory that produces central springs for automotive springs. The supply of parts stagnated, and Toyota and Daihatsu Industries stopped production for about a week. Production in March may be affected to a certain extent.