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Automobiles

Toyota production to top 10m for first time in fiscal 2022

Strong demand in China and US markets expected to boost sales

A Toyota factory in Fukuoka, Japan produces Lexus cars. Japan's largest automaker expects a rebound in demand due to COVID-19 vaccines and an easing of the chip crunch. 

NAGOYA, Japan -- Toyota Motor plans to produce a total of 10.4 million units globally combining its Toyota and Lexus brands for the fiscal year 2022 ending in March 2023, Nikkei learned Saturday.

This marks the first time the auto group will top 10 million units, boosted by increased demand in the wake of successful vaccination campaigns as well as sufficient production of semiconductors.

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