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Toyota global production down for 10th month despite rising sales
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Toyota global production down for 10th month despite rising sales
Dec 24, 2024 8:49 PM

TOKYO, Dec 25 (Reuters) - Toyota Motor's ( TM ) global

production decreased for a 10th straight month in November, the

Japanese carmaker said on Wednesday, although its worldwide

sales grew for the second consecutive month on solid demand in

the United States and China.

The world's biggest automaker manufactured 869,230 vehicles

globally in November, down 6.2% from the same month last year, a

larger fall than October's 0.8% dip.

Toyota's ( TM ) U.S. output was down 11.8%, making a slow recovery

although the production of Grand Highlander and Lexus TX SUV

models resumed in late October after a four-month stoppage.

China production dropped 1.6%, which was however better than

a 9% decline in the previous month, as Toyota ( TM ) saw higher local

sales of its Granvia and Sienna minivan models and the electric

sedan bZ3 jointly developed with BYD.

Amid the rise of BYD and other Chinese brands, Toyota ( TM ) has

decided to build an independent plant in Shanghai and start

manufacturing electric cars for its Lexus luxury brand from

around 2027, the Nikkei newspaper reported on Monday.

In Japan, which accounts for about a third of Toyota's ( TM )

global output, production was down 9.3% in November, due in part

to a two-day production halt at its Fujimatsu and Yoshiwara

plants.

Toyota ( TM ) saw its worldwide sales rising for a second straight

month, by 1.7% to 920,569 vehicles, setting a new record for the

month of November.

In the January-to-November period, Toyota's ( TM ) global output

was 5.2% lower than the same period last year at around 8.75

million vehicles, while global sales were down 1.2%.

The production and sales figures include vehicles of

Toyota's ( TM ) Lexus brand but exclude those of group companies Hino ( HINOF )

and Daihatsu.

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