Toyota January Production Surge 8.8%; Says Situation Remains Difficult To Predict

Toyota Motor Corp TM reported global production for January 2023 of 689,09 vehicles, up 8.8% year-on-year. Including Daihatsu & Hino results, total TM global production improved 8.4%.
The company said global production was up year-on-year in Japan and overseas due to a rebound from decreased production due to the impact of the spread of COVID-19 and the tight supply of semiconductors in the previous year.
The production figure excludes Daihatsu Motor Co and Hino Motors Ltd units.
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Toyota Domestic production climbed 30.1% Y/Y to 211,572 vehicles.
However, global Toyota sales dipped 5.6% to 709,870 units. Including Daihatsu & Hino results, total TM global sales fell 3.6% to 795,847 vehicles.
The automaker said the situation still remains difficult to predict due to semiconductor shortages and COVID-19.
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Price Action: TM shares closed lower by 2.09% at $136.05 on Friday.