Toyota's Soaring April Sales: Hybrids and EVs Stealing the Show

Toyota Motor Corp's TM April 2023 global sales and production were up year-on-year due to a rebound from the pandemic-induced semiconductor crisis.
The global sales rose by close to 5% in April Y/Y, thanks to robust demand for hybrids and gasoline-powered cars in Japan and China.
The automaker also reported better overseas sales of battery electric vehicles (EVs).
Toyota in April sold 800,863 vehicles globally, including its luxury Lexus brand, up by 4.9% Y/Y, Reuters reports.
Sales of hybrids like the new Prius in Japan posted a substantial 59.2% Y/Y jump to make up just over 50% of the 125,326 vehicles sold in the company's home market in April, outpacing the 21.5% rise in its overall domestic car sales.
In China, Toyota sales jumped 46.3% Y/Y to 162,554 units in April.
In April, the automaker sold 8,584 battery EVs worldwide, including its Lexus brand, accounting for over 1% of its global sales in a month for the first time.
Price Action: TM shares traded lower by 0.64% at $139.18 premarket on the last check Tuesday.
Photo via Wikimedia Commons

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