The Strategist

Toyota sells record number of cars

03/30/2023 - 10:54

Toyota Motor Corp. announced today that its February worldwide sales reached a record high and that global production rose for a second consecutive month, which means a recovery after a serious pandemic-related parts shortage.

At that, the biggest carmaker in Japan claimed that the parts issue still needs to be resolved. The company's supply chain handled the pandemic better than most manufacturers, but it still had to lower its monthly output goals several times last year.

In February, Toyota sold 773,271 cars worldwide, an increase of 10.3% on the back of a 53.2% increase in domestic sales. Due to a shortage of semiconductors, the company had an especially bad February last year in terms of sales.

Global production of Toyota-branded vehicles increased 2% to 755,839 units just over the goal of 750,000 units. Growth in January was 8.8%.