Toyota Motor Corp. is holding the top position among the world’s automakers when it comes to production, delivering a record 10.7 million cars as a group for the 12 months ended March 31.
The company attributes increased outputs to expanded capacity and production optimization in North America and Asia. An improved supply of semiconductor chips helped it clear earlier production snarls.
The automaker’s global sales, which include brands like Daihatsu Motor Co. and Hino Motors Ltd., came in at 10.6 million units, up 1.7% on strong demand, Toyota reported.
The company’s output of Toyota-branded cars and Lexus models, at 9.13 million units, was in line with earlier forecasts.
Pressure is mounting for Toyota to make a stronger entry into pure electric cars. However, Toyota Motor Corp.’s CEO Koji Sato has said he remains confident that selling EVs alongside hybrid and gasoline-powered cars offers the best chance of securing the Japanese carmaker’s future.
The automaker reported domestic production and sales for the 12-month period rose 1.3% and 2.4%, respectively, to 3.8 million unit and 2 million units. In March, Toyota’s global production jumped 4.2% to a high of 1.1 million vehicles, while sales climbed 2.4% to 1 million.