Toyota’s global production declines for 10th consecutive month

• Published On: 26 December 2024 at 10:16

Toyota Motor reported a 6.2% drop in global production in November, its tenth consecutive month of decline.

Last month, the world's largest automaker produced 869,230 vehicles, a larger decrease than the 0.8% drop seen in October. Despite the production slump, Toyota's global sales increased for the second consecutive month, boosted by strong demand in the United States and China.

In the United States, production fell 11.8%, indicating a slow recovery, despite the resumption of Grand Highlander and Lexus TX SUV production in late October after a four-month hiatus.

China's production fell by 1.6%, but this was better than the previous month's 9% drop. Toyota's Granvia and Sienna minivans, as well as its electric sedan bZ3, which was developed in collaboration with BYD, all contributed to improved performance.

To compete with BYD and other Chinese automakers, Toyota intends to build an independent plant in Shanghai. According to Nikkei, the new facility will begin producing electric vehicles for Toyota's Lexus luxury brand around 2027.

Toyota's production in Japan fell 9.3% in November, thanks in part to a two-day shutdown at its Fujimatsu and Yoshiwara plants.

On a positive note, Toyota's global sales increased by 1.7% in November, to 920,569 vehicles, a new monthly record. However, the company's year-to-date production from January to November was down 5.2%, totalling approximately 8.75 million vehicles, while sales fell 1.2%.

These figures include vehicles from Toyota's Lexus brand but exclude Hino and Daihatsu.