Toyota's global output surges to record in November on strong demand
TOKYO (Reuters) — Toyota Motor (NYSE:TM)'s global production jumped 11% in November to a record level, bouncing back from last year's supply chain disruptions and benefiting from robust demand both in Japan and overseas.
Output for November climbed to 926,573 vehicles, while worldwide sales increased 14% from a year earlier when automakers globally were bedevilled by shortages of semiconductors. Both figures include Toyota's Lexus luxury brand.
Domestic sales for the month shot 27% higher, sales in both the United States and China increased by 17%, while those in Europe climbed 15%.
The result puts the world's largest automaker on track for global sales of more than 10 million Toyota and Lexus-branded vehicles in 2023 — also a record. Around a third of the vehicles sold far this year have been gasoline-electric hybrids.
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