[TOKYO] Toyota Motor said on Friday its global production rose for the second consecutive month in February, driven by higher output and stronger sales in Japan after recovering from a certification scandal in its home market last year.
Global output for the world’s biggest automaker increased 6 per cent to 779,790 vehicles year-on-year, with domestic production up 16 per cent and that in other countries growing less than 1 per cent last month.
Toyota’s production in North America dropped by 1 per cent, while car shipments from Japan to its largest market, the United States, also declined by 1 per cent.
The company’s global revenue grew 6 per cent in the reported month, supported by a 28 per cent spike in domestic sales and a 2 per cent rise in overseas sales.
US President Donald Trump unveiled on Wednesday a 25 per cent tariff on imported cars and light trucks to take effect on April 3.
Trump’s trade policies have sparked global uncertainty, with investors concerned about potential supply chain disruptions, reduced investment, and the looming threat of inflation jeopardizing global economic growth.
In North America, Toyota’s sales fell 7 per cent, though the company attributed the decline to fewer operating days and an inventory shortage of hybrids and other vehicles, while noting that demand for its vehicles remained strong.
The production and sales figures include its luxury Lexus brand. REUTERS
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