Toyota's August Production & Sales Climb; Here's The Details
Portfolio Pulse from Shivani Kumaresan
Toyota Motor Corp (NYSE:TM) reported a 4.3% increase in global production to 924,509 vehicles in August, including subsidiaries Daihatsu Motor Co and Hino Motors Ltd. The company attributed the rise to recovery from semiconductor shortages. Worldwide sales grew 9.4% to 923,180 units. Year-to-date, total sales increased 5.9% to 7.26 million vehicles, and production rose 9.5% to 7.47 million units. Toyota is also planning to build a third car plant in India to expand production capacity.
September 28, 2023 | 1:20 pm
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Toyota's global production and sales have increased, indicating a recovery from the semiconductor shortages. The company is also planning to expand its production capacity in India.
The increase in Toyota's global production and sales indicates a recovery from the impact of semiconductor shortages, which had previously affected the auto industry. This recovery, along with the company's plans to expand its production capacity in India, could lead to increased revenues and profitability, potentially positively impacting the company's stock price.
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