Toyota world manufacturing down for tenth month regardless of rising gross sales

TOKYO (Reuters) – Toyota Motor (NYSE:TM)’s world manufacturing decreased for a tenth straight month in November, the Japanese carmaker stated on Wednesday, though its worldwide gross sales grew for the second consecutive month on strong demand in the US and China.

The world’s greatest automaker manufactured 869,230 autos globally in November, down 6.2% from the identical month final 12 months, a bigger fall than October’s 0.8% dip.

Toyota’s U.S. output was down 11.8%, making a gradual restoration though the manufacturing of Grand Highlander and Lexus TX SUV fashions resumed in late October after a four-month stoppage.

China manufacturing dropped 1.6%, which was nevertheless higher than a 9% decline within the earlier month, as Toyota noticed increased native gross sales of its Granvia and Sienna minivan fashions and the electrical sedan bZ3 collectively developed with BYD (SZ:002594).

Amid the rise of BYD and different Chinese language manufacturers, Toyota has determined to construct an unbiased plant in Shanghai and begin manufacturing electrical vehicles for its Lexus luxurious model from round 2027, the Nikkei newspaper reported on Monday.

In Japan, which accounts for a couple of third of Toyota’s world output, manufacturing was down 9.3% in November, due partly to a two-day manufacturing halt at its Fujimatsu and Yoshiwara vegetation.

Toyota noticed its worldwide gross sales rising for a second straight month, by 1.7% to 920,569 autos, setting a brand new report for the month of November.

Within the January-to-November interval, Toyota’s world output was 5.2% decrease than the identical interval final 12 months at round 8.75 million autos, whereas world gross sales had been down 1.2%.

The manufacturing and gross sales figures embody autos of Toyota’s Lexus model however exclude these of group firms Hino and Daihatsu.