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Toyota Records Higher Global Output in August as COVID-19 Impact Eases

Industry: Vehicle Manufacturing
Current: Company Performance

For the first time in five months, global output of Toyota Motor Corp. increased in August 2022 aided by growth in international markets
Even though Toyota continues to deal with supply-chain issues related to the COVID-19 pandemic and a shortage of semiconductors, things are better now than they were a year ago
Toyota maintained its fiscal year through March 2023 production goal of 9.7 million vehicles

Toyota's Global Output Increased to a Record High

For the first time in five months, Toyota Motor Corp.'s global output increased in August 2022, aided by growth in international markets, particularly Southeast Asia, where an increase in COVID-19 cases disrupted supply chains a year ago. Even though Toyota continues to deal with supply-chain issues related to the pandemic and a shortage of semiconductors, things are better now than they were a year ago when COVID-19 cases were high and a greater number of factories were closing, which resulted in a shortage of parts. Toyota maintained its fiscal year through March 2023 production goal of 9.7 million vehicles. The vehicle production changed significantly over the past few years, according to GlobalData.

Sales, earnings and cash flow for Toyota could surpass pre-pandemic levels and the company could have less debt overall as a result. These factors could help Toyota regain its previous Aa/AA tier ratings in the intermediate future.

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