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Toyota Starts Year Strong as Supply Issues Ease

Says its production hit a record in first six months as sale rise.

July 28, 2023
Toyota Starts Year Strong as Supply Issues Ease

Sales and production rose for the first time in two years for the Japanese brand.

Credit:

IMAGE: Toyota

1 min to read


Toyota reported that sales results for the first half of the year rose - the first increase in two years - as the industrywide chip supply constraints eased in the wake of the pandemic.

The Japanese automaker said worldwide sales, production and exports were up year-over-year, sales by 5.1% to nearly five million units. That includes luxury line Lexus.

Sales in its home country surged 33% to over 878,000, while those in the U.S. fell 0.7% to a little more than a million.

Toyota said its global production reached a record high, up 12% to 4.9 million units on “solid” demand.

Exports rose 8.5% to more than 879,000 units, also the first increase in two years, it said.

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