Toyota's Global Output Tumbles 11% After Suspension Of Production Of 2 SUVs In North America
Portfolio Pulse from Anan Ashraf
Toyota's global vehicle sales dropped by 3.1% in August 2023, with significant declines in Japan and China. Despite a 1.9% sales increase in the U.S., production fell due to a recall. However, Toyota's electrified vehicle sales rose by 23%.
September 27, 2024 | 10:12 am
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Toyota's global sales fell 3.1% in August, with production down 11.2% due to recalls in North America. However, electrified vehicle sales increased by 23%, indicating a shift towards EVs.
The decline in global sales and production, particularly due to recalls in North America, is likely to negatively impact Toyota's stock in the short term. However, the significant increase in electrified vehicle sales could mitigate some negative sentiment.
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IMPORTANCE 80
RELEVANCE 100