Thu, Nov 14, 2024

Toyota failed to meet 10 million target

Toyota failed to meet 10 million target

Toyota reported that fiscal 2023 vehicle production increased by 9.2 percent to 9.97 million. However, the company could not meet its previously announced production target of 10.1 million vehicles.

Japanese automaker Toyota has published comprehensive production, sales and export data between April 2023 and March 2024.

Accordingly, Toyota's vehicle production in the 2023 fiscal year increased by 9.2 percent to 9.97 million compared to the previous fiscal year.

The Japanese company's previously announced production target of 10.1 million vehicles for the 2023 fiscal year could not be achieved.

Overseas production increased by 5 percent to 6.66 million. Demand originating from Europe and North America affected this increase.

The company's domestic production increased by 18.7 percent to 3.31 million.

The normalization of domestic vehicle demand after the coronavirus had a positive impact on this increase.

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