Toyota beats production goal

Toyota Motor Corporation has set a new output record for the company after producing 9.13 million vehicles in the year to the end of March 2023.

The total was slightly above the marque’s revised target of 9.1 million units as factory disruption from global chip supply woes and Covid-19 lockdowns eased, reports Reuters. It was also above the previous financial year’s tally of 8.57 million vehicles.

Global sales came in at 9.61 million vehicles in the past 12 months, up from 9.51 million in the prior year and another record for the business.

Despite those successes, Toyota says the impact of the global shortage of semi-conductors is ongoing and it remains hard to predict its effect going forward.

“However, we will continue to carefully monitor the parts supply situation and minimise sudden decreases in production as much as possible while making every effort to deliver as many vehicles as possible to our customers at the earliest date,” the company says.

Toyota notes its brands have also sold 17,473 battery electric vehicles (BEVs) worldwide in the first three months of 2023, which compares with 24,466 such units for the whole of 2022.