Toyota Says It’s Recovered From Covid-Era Constraints
Notwithstanding Tuesday’s plants shutdown in Japan, it’s enjoying an upswing in sales, production.
Toyota's worldwide sales increased 8% year-over-year for the month to nearly 860,000 units.
IMAGE: Toyota
Toyota said its sales and production rose in July as it rebounded from pandemic-fueled chip shortages.
The news came a day after its 14 plants in Japan shut down due to a system failure; production resumed today.
Its worldwide sales increased 8% year-over-year for the month to nearly 860,000 units, including the Lexus luxury brand. Sales outside Japan rose 3.7%.
Worldwide production jumped about 15%, 3.3% outside Japan, achieving record highs, Toyota said, citing improved capacity.
The sales increase continues a six-month upward trajectory.
Tuesday’s manufacturing shutdowns in Japan temporarily put the brakes on the surge. Two sources told Reuters that they happened during a parts-ordering system update, though a company spokesperson wouldn’t confirm or deny that.
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