Business Desk 
Dec 25, 2024
Toyota has reported a decline in global production for the 10 consecutive months in November 2024. Despite this, the production fell by 6.2% compared to the same month last year, resulting in a total production of 869,230 units.
However, this decline is more significant than the 0.8% drop observed in October, which further highlights the challenges Toyota is grabbing with maintaining steady manufacturing levels.
Production in the US fell by 11.8%, as Toyota resumed manufacturing its Grand Highlander and Lexus TX SUV models in late October following a four-month halt.
Production in China decreased by 1.6%, compared with a 9% drop the previous month, due to strong sales of models such as the Granvia, Sienna minivans, and the electric sedan bZ3, which is developed in partnership with BYD.
Production in Japan, accounting for a third of Toyota's total output, decreased 9.3% in November, partly because of a two-day shutdown at its Fujimatsu and Yoshiwara plants.
Meanwhile, Toyota is trying to strengthen its share of the electric vehicle market. Reportedly, it's already set to open an additional new plant in Shanghai where electric Lexus cars will start their manufacturing by 2027.
On the sales side, Toyota reported a new November record with 920,569 vehicles sold worldwide, which is a 1.7% increase from the same period last year.
However, for the period of January to November, Toyota's global production declined by 5.2% to around 8.75 million units, while its sales went down by 1.2%.
This counts for Toyota's Lexus brand of vehicles but excludes two of its group companies, Hino and Daihatsu. There were production issues, however; the growth in worldwide sales for Toyota indicates continued good market demand.
