AutoBeta(AutoBeta.net)12/26 Report--

On November 26th, Toyota Motor Group released November production and sales figures. Data show that Toyota's global sales rose 4% year-on-year to 797000 vehicles in November 2022, the fourth consecutive month of year-on-year growth, including 110000 in Japan and 686000 overseas On the production side, Toyota's global production rose 1.5 per cent year-on-year to 833000 vehicles in November 2022, the fourth consecutive month of year-on-year growth, with production in Japan's domestic market falling 3.3 per cent to 266000 vehicles and overseas market production up 3.8 per cent to 567000 vehicles.

According to the data, Toyota's production and sales data increased in November compared with the same period last year. Toyota said that the increase was due to solid demand in the North American market and the recovery of the supply of parts affected by COVID-19 's epidemic. As a result, Toyota's global sales and production in November exceeded last year's levels.

Segmented into the Chinese market, Toyota's sales performance in China was not optimistic in November, with sales of only 140400 vehicles, down 18.4 per cent from a year earlier, the first year-on-year decline in nearly six months, with Guangzhou Auto Toyota rising 3.5 per cent to 78392 vehicles. FAW Toyota plummeted 38.8 per cent to 50139 vehicles. In response, Toyota said that the spread of the epidemic has restricted the operation of dealers, resulting in a significant reduction in the number of customers. At the end of November, due to the closure of the epidemic, a number of car companies in China are facing production suspension or production cuts, in which Toyota spokesman ShinoYamada said that due to a number of factors, the company is adjusting some production (production cuts) at its plants in China, but declined to elaborate.

Due to a series of factors such as the epidemic and supply chain disruptions, Toyota's production plans have been disrupted so far this year, especially in the Japanese local market. In November's capacity, for example, while Toyota's global production rose 1.5 per cent to 833000 vehicles year-on-year in November, production in Japan's home market fell 3.3 per cent to 266000 vehicles. But zooming in to the first 11 months of 2022, Toyota's production in its home market in Japan is still on a downward trend. Toyota's cumulative global production rose 10.84 per cent year-on-year to 8.327 million vehicles from January to November 2022, with cumulative production in Japan falling 6.98 per cent year-on-year to 2.434 million vehicles, while overseas production rose 14.1 per cent to 5.893 million vehicles, according to official data.

In response to soaring raw material costs and persistent chip shortages, ‍ Toyota cut its annual production target in November and announced in its 2023 interim results that Toyota and Lexus brand production forecasts for the current fiscal year (April 2022-March 2023) were cut by 500000 to 9.2 million vehicles, taking into account risks such as semiconductor purchases. On December 15, Toyota announced its production plan for January 2023. Toyota said it planned to produce 700000 vehicles worldwide in January 2023 (about 200000 in Japan's domestic market and 500000 overseas) due to a shortage of semiconductors and other components, the spread of COVID-19 and stagnant logistics. Of a total of 28 production lines at Toyota's 14 factories in Japan in January, two production lines will be suspended for 6-9 days. Among them, the longest shutdown time of a production line at Toyota's Hanamura plant is 9 days; a production line at Toyota's Tadahara plant is suspended for 6 days; the affected models include Land Cruisers, Prado, Lexus GX, 4Runner and so on. Toyota stressed that it is difficult to predict production and delivery due to semiconductor shortages and the spread of novel coronavirus infection, but Toyota will reduce production as much as possible and deliver as many products to customers as soon as possible.

Data show that from January to November 2022, Toyota's global cumulative sales fell by 0.41% to 8.727 million vehicles compared with the same period last year, of which sales in Japan fell 12.7% to 1.19 million vehicles, while production in overseas markets increased by 1.85% to 7.537 million vehicles. Judging from Toyota's production in January, Toyota is still deeply affected by semiconductor shortage and the spread of novel coronavirus infection. The chaos of not being able to produce as planned continues. Of course, the automobile industry is concerned that the current supply chain problem is only a temporary problem for Toyota, and for Toyota, the longer-term challenge is how to deal with the transition from traditional fuel vehicles to new energy vehicles. Although Toyota is also actively laying out the new energy vehicle market, the progress of Toyota in the field of pure electric vehicles is still relatively slow.

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