Toyota Sales Growth: Updated Jan,. 1, 2024

 

Toyota posts record global output, sales in April-Sept. period

Article Source: https://mainichi.jp/english/articles/20231030/p2g/00m/0bu/027000c

Article:

NAGOYA (Kyodo) -- Toyota Motor Corp. said Monday it posted record global production and sales figures for a fiscal half in the April-September period, as output picked up on the back of an easing chip shortage.

Toyota built 5.06 million vehicles worldwide in the fiscal first half, up 12.8 percent from the same period a year earlier, reaching record production levels for the first time in four years.

Ideas:

Its amazing that just recently, the last two years, there were massive chip shortages related to anything that needed chips. 

But at the same time, the record output has to be thought of a making making up for lost production the last two years, because of the chip shortage.

But its no small feat that Toyota has been able to recover so quickly with significant sales and record output.

It just shows the global economy is doing OK and not headed for any kind of recession or even a slowdown or a pause due to inflation.

Article:

The improved availability of chips helped the world's largest carmaker by volume sell an all-time high 5.17 million vehicles at home and abroad in the six months that ended in September, up 9.1 percent from a year earlier.

It is the first time the Japanese automaker saw its production and sales both top the 5 million mark in a fiscal first half, as it aims to manufacture and sell more than 10 million vehicles for the full year ending in March.

Ideas:

At one time, talking to Japanese citizens, they said, in Japan, in 2021, for example, it took 6 months to get a new Japanese car, due to chip shortage.

If Toyota saw such improved production and maybe sales figures too, what about the other major brands such as all of the European brands globally.

If the global economy continues to improve, or even stay on its current course, no doubt Toyota and other brands are going to have  record year.

But there is no certainty, exactly moving into 2024. There are no real signs of a recession or a slowdown but March is a long ways away from today.

Article:

Its output was boosted by increased production in North America and Japan, while in China it dropped 7.3 percent as sales struggled in the country amid intensifying competition from domestic rivals.

Toyota's sales grew on robust demand in Japan as well as overseas, including North America and Europe. Its domestic sales soared 33.8 percent to 790,168 vehicles and overseas sales climbed 5.5 percent to 4.38 million units.

Ideas:

North America and Japan seem to be doing just find with no slowdown indicated in the future. But China is in a different situation, with its domestic economy in a period of transformation along with some other domestic challenges. 

The Chinese car makers are headed in the right direction, and like other Chinese products over the past decade, they have caught up and maybe even passed some Japanese and South Korean brands. 

Again, part of the record sales might have been latent demand and or latent sales meaning because the past chip shortages maybe customers were just waiting until the pandemic and the chip shortages had passed before they decided to get a new car.

But whatever the reasons for the record output and record sales Toyota looks like its going to have a record fiscal year when it end at the end of March.

Article:

Toyota's electric vehicle sales jumped sevenfold to 58,984 units globally for the period after it launched new models to broaden its emissions-free lineup.

The automaker sold 1.83 million electric, hybrid and other types of battery-driven vehicles, up 38.1 percent.

Toyota's global production and sales for September were also a record high. Monthly output grew 1.5 percent from a year earlier to 900,919 units while the sales increased 11.6 percent to 921,308 cars.

Ideas:

All car makers, not just Toyota, need to understand that maybe the cars that use gasoline might be extinct eventually. How long is it going to take before there are no longer any gasoline cars produced and sold? Who know exactly. It will depend on demand and if car companies can produce EV cars at a prices that the average family can buy one.

But of course its not going to be in 2024, but for sure more EV cars will be produced and sold than in 2023 as that appears to be the future,

Again, like anything product, the key being able to product a quality product at a price that the average household can afford. And not just regular sales, as many customers in Japan are now using a hybrid leasing system that lets them have a car for two or three years, without actually buying a new car.

Article:

Global sales by Japan's eight major automakers, including Toyota, in the April-September period rose 7.8 percent on year to 12.30 million units, with seven of the companies recording higher sales.

Mitsubishi Motors Corp., which recently announced its exit from the Chinese market, reported declined sales in the period due to weaker sales in the Asian country amid heightened market pressures.

Ideas:

Its interesting that Japan has eight major car makers, while the US has only maybe 3 major car makers. Of course there are other brands in the US, that produce and sell in the US including Toyota, which has many plants all over the US.

But back to idea of Japan having eight major automakers, might be an indication of cooperation more than competition among the eight car makers, and or they all have significant niches that they fill and don't compete exactly with each other.

Mitsubishi and the Chinese market it understandable and not unexpected as the competition with the new Chinese brands and maybe the fact that Mitsubishi couldn't meet the needs of Chinese customers, so it might have been a wise move to exit the market at this time.

Article:

Honda Motor Co. saw its global sales rise 7.5 percent to 1.97 million units, boosted by robust sales in the United States. Sales at Nissan Motor Co. grew 5.5 percent to 1.65 million cars.

Worldwide production at the eight companies rose 7.4 percent to 12.64 million vehicles.

Ideas:

It seems Japanese cars in the US, and maybe globally, has seen some kind of resurgence since the pandemic has come and gone and also, at the same time, as inflation in the US is decreasing and interest rates haven't been increased recently, which might be good for Japanese car customers and maybe other brands too.

However, there is the ideas of the weak yen, and Japanese exports, if any Japanese cars are exported to the US, they might be subject to higher prices, but as there are many Japanese cars now produced in the US they are not subject to the weak yen, which makes more affordable to US and Canadian customers.

Japan carmakers were smart to build car plants in the US and Canada, and Mexico, as a way to improve their supply chains and get past the weak yen situation.

Have a nice day and be safe!