AutoBeta(AutoBeta.net)02/26 Report--

On February 25th, Toyota Motor Group released production and sales figures for January 2022. According to the data, Toyota's global sales fell to 752155 vehicles in January 2022, down 2 per cent from a year earlier; global production fell to 630891 vehicles, down 15 per cent from a year earlier. Specifically, in terms of sales, Toyota sold 752155 vehicles worldwide in January, of which domestic sales in Japan fell 13 per cent to 110371 due to production lag, although sales performed better in overseas markets, with 641784 in January. In terms of production, Toyota produced 630891 vehicles worldwide in January, of which 162640 were produced in Japan's domestic market, down 32 per cent, and 468251 in overseas markets, down 7 per cent. Previous data showed that Toyota's global production in December 2021 was 801100 vehicles (260000 in Japan's domestic market and 540000 in overseas markets), up 6% from a year earlier, the highest in a single month in December. Toyota production fell into a situation of production cuts again in January this year.

On December 15 last year, Toyota announced plans to produce 800000 vehicles worldwide in January 2022, with only 630000 actually produced. As for the decline in production in January, Toyota said it was forced to cut production because of the epidemic and chip shortages. Perhaps because of the decline in production, Toyota's share price was $213.74 in early January, while it hit a low of $185.38 in U.S. stock trading on Feb. 25. Toyota lost about $51 billion (320 billion yuan) in market value in less than a month of trading. As of Feb. 25, Toyota had a market capitalization of $256.8 billion (1.6 trillion yuan).

What is noteworthy is that Toyota's sales in China also plummeted in January, according to previous reports from the auto industry. Toyota sold 148800 new cars in China in January 2022, down 21.5% from a year earlier, according to relevant data. Among them, Guangzhou Auto Toyota's January sales rose 0.8 per cent to 87500 vehicles from a year earlier, while FAW Toyota fell 46.0 per cent to 41000 vehicles, while Lexus, an imported luxury brand, sold only 17500 vehicles in January, down 27.9 per cent from a year earlier.

With regard to the decline in Toyota's sales in China, the automobile industry is concerned that it may also be due to the impact of the epidemic. FAW Toyota announced the suspension of production at its Tianjin plant due to the impact of the epidemic on January 13, according to the Financial Association. affected by the COVID-19 epidemic in Tianjin, Toyota Tianjin plant was suspended from January 10 to 21. FAW Toyota Tianjin factory mainly produces models including Wechi, Carola, Crown Lufang, Asian Dragon and Asian Lion, etc., and the above models are FAW Toyota's main selling products, and the lack of production capacity affects the sales in the end market to a certain extent. it has an impact on the overall market performance of FAW Toyota.

Looking back at Toyota's production target of 9.3 million vehicles set before the start of fiscal year 2021 (April 2021-March 2022), it is now expected to be only 8.5 million vehicles, from a production reduction of 500000 vehicles that cannot be found. the epidemic and the impact of the supply chain on Toyota's capacity, after Toyota lowered its production target of 9.3 million vehicles to 9 million due to the impact of the supply chain. On December 15 last year, Toyota announced its plan to produce 800000 vehicles worldwide in January 2022, when Toyota stressed that its target of 9 million vehicles in fiscal year 2021 (April 2021-March 2022) would remain unchanged. The previous shutdown will not affect the annual production target of 9 million vehicles, but it was not long before Toyota's production plans were affected on a large scale. In February this year, Toyota announced that due to the suspension of production of 11 production lines at eight factories in Japan, including the Aichi Wancho plant in February, coupled with a shortage of semiconductors, Toyota expects production of new cars at home and abroad to be about 150000 fewer than planned in February, with global production of about 700000 vehicles, and its sales target for fiscal year 2021 (April 2021-March 2022) will also be lower than the previously announced forecast of 9 million. On February 15th, the media reported that Toyota will reduce production again in March due to supply chain factors, and Toyota will cut production by 100000 to 950000 vehicles, according to the original plan, in order to recover the production losses caused during the previous chip crisis. Toyota plans to increase production to its highest level in March. Toyota has said it expects to lose 100000 to 200000 vehicles in March due to chip supply bottlenecks after losing 140000 vehicles in January. Toyota said its total production loss from January to March could be as high as 480000 vehicles. It is understood that after the March production adjustment, three production lines at Toyota's two plants in Japan will be affected, including Lexus NX, RX, UX crossover, ES sedan, C-HR compact crossover and Aqua hybrid.

Toyota has cut production plans for this fiscal year several times before. For this year's production plan, Toyota has also said that it is difficult to predict this year's production due to the continued spread in Southeast Asia and the shortage of chips. But Toyota pointed out that the impact will be minimized.

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