Cyprus Mail

Toyota’s global sales notch up a February record as parts shortage eases


Toyota Motor Corp (7203.T) 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 per cent to 773,271 vehicles, driven by a blistering 53.2 per cent 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 per cent to 755,839, slightly ahead of its goal of 750,000. The increase comes after an 8.8 per cent jump in January.

Domestic production continued to show a strong recovery, climbing 11.2 per cent in February after a 30.1 per cent surge in January.

Related Posts

Cyprus businesses should enhance their outward orientation, President says

Source: Cyprus News Agency

Eurozone slips into recession after German revision

Reuters News Service

Paphos real estate market sees surge in luxury properties

Kyriacos Nicolaou

Panicos Masouras, General Secretary, Cyprus Computer Society

Panis Pieri

Turkish lira extends losses as Ankara loosens grip on forex market

Reuters News Service

Elon Musk and Dogecoin in trouble Tradecurve already bringing ROI

CM Guest Columnist