Toyota Broke Its Global Sales Record in August

Toyota Motor Corp. saw its sales reach a record high of 923,180 units in August, a 9% year-over-year increase, thanks to improved supply conditions coupled with growing demand levels.

The company saw its global production levels grow by about 4% to 924,509 vehicles, according to The Japan Times.

Toyota and Lexus brand car sales rose by 3% in Europe, with most purchases coming in Italy, England and Spain. Simultaneously, Toyota saw its sales in Asia fall by 4% with a 6% decrease in numbers out of China. However, Toyota’s sales jumped by 45% and 63% year-over-year in Japan and South Korea, respectively.

Toyota said that it is planning to produce 150,000 electric vehicles this year, 190,000 EVs in 2024 and 600,00 EVs in 2025.

During August the business sold 11,880 battery EVs, bringing the company’s total EV sales for 2023 to 65,467 units, meaning Toyota has already managed to double the number of EVs it sold in 2022 (24,000). Still, Toyota CEO Koji Sato said the company is far from the 1.5 million EVs it promised to be selling annually by 2026.

At this time, Toyota has not yet released its EV production figures for August.

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• Source: https://www.supplychainbrain.com/articles/38184-toyota-broke-its-global-sales-record-in-august