On Monday, Toyota Motor Corp. (7203.T) announced that global vehicle production increased by 1.5% in November, reaching a new record of 833,104 units.

Domestic production slid 3.3% to 266,174 vehicles, while abroad result rose 3.8% to a record-breaking high of 566,930 for the month.

According to Toyota, strong demand, particularly in North America, and a recovery in parts supplies that had been impacted by COVID-19 slowdowns contributed to November’s global sales and production exceeding levels of the previous year.

The automaker stated earlier this month that it maintained its revised goal of 9.2 million vehicles for the year through March and expected to produce 700,000 vehicles in January.

Toyota had recently expected to make 9.7 million cars this monetary year, however had to bring down the objective in November as it battles with rising materials costs and a lack of semiconductors.

That is still more than the 8.6 million units produced the previous year.

Topics #global vehicle production #Toyota #vehicle production