Toyota Global Sales, Production And Profits Reach New Record Highs

Automaking giant Toyota charted new record high sales, production, and profits as it closed Sept.

Toyota reportedly saw a spike in both its global sales and production figures this year through a period lasting from April to Sept, leading to the firm to close Sept with record high profits too. Notably, much of the latter was driven by increased demands for its hybrid models.

In Sept, the Toyota brand itself shifted 921,308 vehicles, marking an 11.6% increase from the same month last year. Concurrently, its Daihatsu brand sales also rose by 2.4% to 71,350 units, though sales of its  Hino brand models dropped by 11.6% to 11,121 units.

Nevertheless, overall group sales were up by 10.5% to 1,003,779 units. Beyond its home market, Toyota’s sales – Daihatsu and Hino brands included – also rose by 9.3% to 800,591 units in total.

Overall group sales were up by 10.5%, totalling over 1 million units, though overseas production did slump by 3.6% with just under 600,00 units churned out here.

Equally strong too were Toyota’s production figures, and Sept saw the carmaker churn out 900,919 vehicles in total. Of which, 310,920 units were built in Japan and marked a 12.8% increase from the previous year, whilst the remaining 589,999 units were made in its overseas facilities but marked a 3.6% decrease here.

Altogether, Sept marked the ninth consecutive month of increased year-on-year output, but also the second consecutive month where production figures outside of Japan declined.

For the firm’s first-half fiscal year lasting from April to Sept, global sales rose by 9.1% to 5,172,387 units, whereas production figures were up by 12.8% also to a total of 5,058,248 units. The latter is driven by a 27.3% production growth in Japan too, totalling 2,500,988 units here.

Stronger demand for hybrid and plug-in hybrid (PHEV) models have driven new record profits too, accounting for 36.4% of which.

Unsurprisingly, Toyota have scaled back on EV sales expectations. The initial plan to shift 202,000 units of EVs have ben nearly halved to just 123,000 units instead.

As for profits spanning from July through September, Toyota achieved a record-breaking operating profit of JPY 1.44 trillion yen (approx. RM5.38 billion), thus marking a massive 155.6% surge over the same period last year.

Toyota says increased profits are being largely driven by high demands for its electrified models, which consist primarily of hybrid and plug-in hybrid (PHEV) cars. These accounted  for 36.4% of Toyota’s total global sales in the quarter, marking a significant increase from the 27.3% share it charted last year.

Interestingly, this boosted demand for hybrid models has also prompted Toyota to revise its EV sales expectations significantly. From an initial 202,000 units, Toyota has reportedly lowered this figure to just 123,000 units instead. Given its sparse range of full-EV models, the move is very much unsurprising.