Toyota's July Production & Sales Jump On Strong Demand

Toyota Motor Corp TM said its total global production increased 10% in July to 918,347 vehicles, including subsidiaries Daihatsu Motor Co and Hino Motors Ltd.

The company said both global and overseas production reached record highs due to improved production capacity in each region in response to solid demand.

Worldwide sales, including subsidiaries, grew 5.2% to 918,345 units.

For Toyota, July's global production rose 14.6% to 809,400 vehicles, and sales improved 7.8% to 859,506 vehicles.

The automaker cited 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, total sales increased 5.5% to 6.33 million vehicles and production shot up 10.2% to 6.54 million units.

Toyota on Tuesday paused production in all its Japanese plants after facing a production order system malfunction.

Price Action: TM shares closed higher by 0.08% at $167.39 on Tuesday.