Toyota global output up 11.9% in July, but chip crunch weighs heavy

Toyota Motor Corp. said Monday its global output increased 11.9% in July from a year earlier to 773,135 vehicles, but the pace of increase has been slowing on the coronavirus pandemic and a global shortage of semiconductors.

The output grew for the 11th straight month but the rate of rise was well below the 41.2% gain in June. The top Japanese automaker is expecting a production cut ahead due to difficulties in securing components amid surging coronavirus cases in Southeast Asia, where many suppliers are based.

Toyota has said it expects its global production in September to fall by 40%, or some 360,000 units, from its initial plan.

Its overseas production rose 6.1% to 463,997 units, with output in China and other Asian countries gaining 9.1%.

The impact of the chip crunch has already been felt in North America where Toyota’s production dropped 2.4%. In Japan, it made 309,138 units, up 21.8%.

Toyota globally sold 858,569 units, up for the 11th straight month and the largest figure for the month of July, driven by a recovery in auto demand in key overseas markets including North America.

It sold 718,762 units overseas, up 16.0%. Robust demand for the RAV4 sport utility vehicle helped boost sales in North America, Toyota said.

Its domestic sales, including those of minicars with engines of up to 660 cc, came to 139,807 units, up 9.4%, on strong demand for the Yaris compact car and the Roomy minicar.

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