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Toyota accelerates vehicle production in December as the shortage of parts caused by covid decreases




Toyota says it will increase vehicle production in December to recover from previous cuts as the shortage of parts of the coronavirus has begun to subside.

USED ​​CARS WILL CONTINUE TO RISE AGAINST PRODUCTION DEFICIENCIES: SWIFT CO-CEO

The carmaker expects to build about 800,000 cars globally during the month, up from about 760,000 cars built in the same period a year ago. Toyota noted that their 1[ads1]4 factories and 28 production lines in Japan will operate normally for the first time since May.

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“We would like to express our gratitude to all stakeholders for their tremendous support to help us maintain production.” says the company in a statement. “In response to the persistent shortage of individual parts, we will continue our efforts to strengthen our supply chain with our suppliers and will do everything we can to ensure that we deliver as many cars to our customers as quickly as possible.”

Toyota continues to maintain a production forecast of 9 million units for the financial year.

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The announcement comes as the car industry’s supply has begun to improve, but is still surpassed by consumer demand. October’s seasonally adjusted annual rate (SAAR) for light vehicles came in at 13.1 million, up from about 12.3 million in September and on a par with August.

The average transaction price of new U.S. cars sold in October rose 12.9% year-over-year, or $ 5,266, to $ 46,036, according to Kelley Blue Book, an Irvine, California-based vehicle appraisal and automotive research firm.

Toyota North America sold 146,670 cars in October 2021, a decrease of 28.6% year-on-year on a volume basis. The Toyota division’s sales for the month were 124,039 cars, down 30.6%, while the Lexus division’s sales for the month were 22,631 cars, down 15.2%. Meanwhile, alternatively powered vehicles jumped by 20.4% to a record high of 43,160. Total APV sales, which mainly consist of hybrid cars, accounted for more than 29% of Toyota North America’s total sales, compared to 17.5% in October 2020.

Jonathan Garber of FOX Business contributed to this report



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