2023-12-27 04:58:16 ET
Japanese automaker Toyota Motor ( NYSE: TM ) Wednesday reported a record 11% jump in global production of 926,573 vehicles, while worldwide sales advanced 14% from a year earlier supported by strong demand in domestic and international markets.
Domestic sales for the month climbed 27%, sales in both the United States and China increased by about 17%, while those in Europe climbed 15%, the company said in a statement.
"Continuing from last month, sales (in North America) were up year-on-year as a result of strong demand for hybrid vehicles such as the RAV4 and Corolla HEVs in addition to semiconductor shortages trending toward recovery," Toyota said.
Earlier this month, Toyota's small car unit Daihatsu suspended all its domestic production amid a massive safety testing scandal, and the Toyota ( TM ) said it would issue a recall on 1M U.S. vehicles for a potentially defective airbag sensor.
More on Toyota Motor
- Toyota: Solid State Batteries Will Create A New Electric Vehicle Era
- Toyota Raises Wages In Effort To Keep UAW Out, Maintain Manufacturing Efficiency
- Automotive: Dump Made In Detroit, Buy Toyota Instead
- Toyota's small car unit Daihatsu will pay suppliers for production halt
- Toyota issues recall for 1M U.S. vehicles for faulty airbag sensors
For further details see:
Toyota reports record global output on strong demand