Toyota revealed that global sales and production of the Japanese brand reached record levels in the year ended on March 31, supported by strong demand and the absence of semiconductor supply constraints that have affected the brand in recent years.
Like most Japanese companies, Toyota’s fiscal year runs from April 1, 2023 to March 1, 2024.
In a statement, Toyota stated that global sales increased by 7.3%, to 10.31 million units, compared to the previous year, surpassing the 10 million unit mark for the first time, while its production reached 9.97 million units, representing a 9.2% increase compared to the fiscal year 2022.
Nevertheless, Toyota plans to delay the start of electric vehicle production in the United States and reduce production in Japan to ensure the safety and quality of products after a series of scandals with some companies in the group, as reported by the Mid Japan Economist newspaper.
