TOKYO (Reuters) -- Toyota Motor on Thursday said global sales hit a record for the month of February as it bounced back from severe pandemic-induced parts shortages, adding that worldwide production also increased for a second straight month.
Japan's biggest automaker said in a statement, however, that shortages of parts continue to be a problem. During the pandemic, it fared better than most carmakers in managing supply chains but even so repeatedly cut monthly production targets last year.
Last month, its global sales jumped 10.3% to 773,271 vehicles, driven by a blistering 53.2% climb in domestic sales. That compares with a particularly weak February 2022, when sales sharply declined due to a lack of semiconductors.
It said worldwide production of Toyota-branded vehicles rose 2% to 755,839, slightly ahead of its goal of 750,000. The increase comes after an 8.8% jump in January.
Domestic production continued to show a strong recovery, climbing 11.2% in February after a 30.1% surge in January.