Toyota Motor Corp said on Thursday its global vehicle production grew at a record pace for the month of August, as the sector recovered from the COVID-19 pandemic and production capacity increased, mainly overseas.
A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/said on Thursday its global vehicle production grew at a record pace for the month of August, as the sector recovered from the COVID-19 pandemic and production capacity increased, mainly overseas.
Toyota was able to secure more semiconductor components than anticipated primarily in Asia, a region where there is also strong demand from consumers, as chips shortage eased, a spokesperson said. Production in the first five months of the current fiscal year that started in April is now 6.7% short of the company's initial plans, as opposed to 10.3% last month, according to Reuters calculation based on company data.
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