TOKYO (Reuters) -Toyota Motor said on Thursday its global production rose for a fifth consecutive month in October, lifted by strong U.S. demand for hybrid vehicles that offset weaker sales in Japan and China. Global output climbed 4% to 926,987 cars from a year earlier, while worldwide sales advanced 2% to 922,087 vehicles, marking a […]
Business
Toyota October output grows for fifth straight month on strong US demand
Audio By Carbonatix
TOKYO (Reuters) -Toyota Motor said on Thursday its global production rose for a fifth consecutive month in October, lifted by strong U.S. demand for hybrid vehicles that offset weaker sales in Japan and China.
Global output climbed 4% to 926,987 cars from a year earlier, while worldwide sales advanced 2% to 922,087 vehicles, marking a tenth consecutive monthly gain, according to data released by the Japanese automaker.
In the United States, Toyota’s top market, production surged 26% for the month, marking its fifth straight double-digit increase as hybrid demand stayed robust and output recovered from last year’s production stoppage of two models.
Output in Japan rose 7%, but sales fell 4%. Toyota did not disclose a reason for the decline.
In China, production slipped 6% and sales dropped 7%, hit by the end of subsidy programmes in some regions.
For the first 10 months of the year, Toyota sold 8.7 million vehicles, with hybrids accounting for 42% of the total and battery electric models making up just under 2%.
The production and sales figures include its luxury Lexus brand.
(Reporting by Daniel Leussink; Editing by Rashmi Aich)