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Automobiles

Toyota group production, overseas sales hit record for February

Global parts shortage fails to dent growth of Japanese automaker

Toyota alone exceeded its February global production target released a month earlier.   © Reuters

TOKYO (Reuters) -- Toyota Motor said on Wednesday its group, including Daihatsu and Hino Motors, produced and sold a record-high number of vehicles for February in markets outside Japan, despite a parts shortage triggered by the COVID-19 outbreak.

The group's overseas production in February was 531,183 vehicles, a 16% increase from the same month last year, while sales was 620,360, a 5.2% jump from the same period a year ago.

For the group as a whole, it produced 884,528 vehicles and sold 774,860 globally for the month. Global production went up by almost 11% for February year over year but global sales slid 1.6%.

Just Toyota alone exceeded its February global production target plan released a month earlier by almost 41,000 vehicles. But the level was below the year-ago period due to a parts supply shortage in North America due to COVID-19 and tight parts supply in Europe because of rising demand.

It faced tight semiconductor supplies in China, but the automaker said it had used semiconductors that were rendered surplus from a factory shutdown in January due to COVID-19.

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