Toyota Posts 10% Sales Growth In May Boosted By Improved Supply Chain Logistics

Toyota Motor Corp TM reported a sales growth of 10.1% year-on-year for the month of May, to 838,478 vehicles.

Worldwide sales, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd., improved 10.7% to 906,715 vehicles.

The global sales growth in May marks the fourth consecutive month of Y/Y increase.

Worldwide production for Toyota increased 33.4% Y/Y to 847,000 vehicles.

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Sales and production were both up year-on-year as a result of a recovery from the impact of semiconductor shortages, in addition to a rebound from the impact of the spread of COVID-19 and semiconductor shortages in the previous year.

Year-to-date sales for Toyota climbed 4% to 4.038 million units and production rose 11.5% to 3.979 million vehicles.

Also Read: Toyota Unveils Plans For EV Innovation And New Battery Technologies

Price Action: TM shares closed higher by 1.86% at $160.11 on Wednesday.