AutoBeta(AutoBeta.net)09/29 Report--

On September 29, Toyota Group released production and sales data for August 2022. According to the data, Toyota's global sales increased 3.8% year-on-year to 777047 vehicles in August 2022, the first year-on-year growth in 12 months, with sales in Japan falling 25.8% year-on-year to 82775 vehicles and sales in overseas markets increasing 8.9% year-on-year to 694272 vehicles. In terms of output, Toyota's global output increased by 44.2% year-on-year to 766683 vehicles in August 2022, the first increase in four months, with Japan's domestic output increasing by 5.6% year-on-year to 196038 vehicles and overseas market increasing by 65.0% year-on-year to 570645 vehicles.

According to the latest production and sales data, Toyota's global sales volume and output increased in August. Toyota said that the main reason for the year-on-year growth in global production and sales volume in August was the downturn in data caused by the epidemic situation in the same period last year. At present, Toyota is still facing uncertain factors such as shortage of parts. While maintaining strong growth in overseas markets, Japan, as one of Toyota's important markets, Production and sales data in this region are also particularly important for Toyota Motor's fiscal year 2022 (April 2022-March 2023) performance.

On August 1, Toyota announced that 9 production lines of 6 of 28 production lines in 14 factories in Toyota's Japanese home market would be temporarily shut down due to factors such as the outbreak of New Crown Pneumonia and shortage of parts supply. Global output fell by about 17% to 700,000 vehicles in August. On Aug.10, Toyota again announced an average production plan of 850,000 vehicles per month from August to October, given that some months of production capacity were not achieved as scheduled due to problems such as chip shortages and supply chain disruptions in the first half of this year. To this end, Toyota Motor will increase the September-November average production plan to 900,000 vehicles and maintain the annual production target of 9.7 million vehicles.

However, given Toyota's 10.3% capacity lag in the first four months of the fiscal year (April-July), industry sources pointed out that Toyota's full-year production target may face a downward revision. Toyota also said that given the uncertainties in the environment, future production capacity is difficult to predict, but it will do its best to curb sudden production cuts.

Earlier, the Japan Federation of Automobile Sales Associations and the National Federation of Miniature Car Associations pointed out that the semiconductor shortage and epidemic control led to difficulties in parts procurement, and the stagnation of production by Japanese automakers would have an impact on new car sales. Under the suppression of the general environment, Toyota's sales end is also deeply affected. Toyota has been forced to suspend sales of several models due to tight supply chains for parts such as chips and short supply of models. As of July 1, Toyota and Lexus have stopped taking orders for the new Toyota Land Cruiser and Lexus LX600.

At present, the delivery time of Toyota new cars takes about half a year to one year. In order to speed up the delivery of new cars, Toyota has introduced the "Recommended Optional Model" measure to improve production efficiency and shorten the delivery time. The "Recommended Option" will be delivered in as little as 2-3 months and up to April 2023, while vehicles other than the "Recommended Option" will be delayed until April 2023 and delivered for more than 8 months. According to Toyota MPV models, some fuel models are delivered in 6-7 months, and hybrid models are delivered in about 1 year. Toyota officials said that concentrating production capacity on "recommended optional models" can improve production efficiency, ensure the expectation of parts and balance consumer demand, Toyota's upcoming "crown" models will also be set recommended optional models, and the follow-up will be based on consumer response to consider expanding models.

From the current Toyota status quo, Toyota's home market in Japan is still affected by chip shortages and supply chain disruptions caused by the new crown pneumonia epidemic. In contrast, the Chinese market has eased. Data show that Toyota's sales of new vehicles in China increased by 30.0% year-on-year to 188,200 vehicles in August this year, and Toyota's two joint ventures in China rose sharply year-on-year, among which GAC Toyota increased 48.6% year-on-year to 84115 vehicles; FAW Toyota increased 25.4% year-on-year to 81262 vehicles.

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