The article below is sourced from Reuters Wire Service. The views and opinions expressed in this story are those of the Reuters Wire Service and do not necessarily reflect the official policy or position of NADA.
Toyota Motor Corp said on Thursday that 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 car makers in managing supply chains, but even so ended up cutting monthly production targets repeatedly 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 last year 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.
(Reporting by Satoshi Sugiyama; Editing by Edwina Gibbs)
For more stories like this, bookmark www.NADAheadlines.org as a favorite in the browser of your choice and subscribe to our newsletter here:
