Autos

Toyota's global sales notch up a February record as parts shortage eases

Key Points
  • Toyota Motor Corp said that global sales reached a record for the month of February as it rebounded from pandemic-induced parts shortages.
  • It added that worldwide production also rose for a second straight month.
  • The company continued to flag that parts shortages continued to be a problem.
All-new, three-row 2024 Toyota Grand Highlander is introduced during world premiere event at Chicago Auto Show on February 8, 2023 in Chicago, Illinois.
Kamil Krzaczynski | AFP | Getty Images

Toyota Motor Corp said on Thursday that global sales hit a record for the month of February as it bounced back from severe pandemic-induced parts shortages, adding that worldwide production also increased for a second straight month.

Japan's biggest automaker said in a statement, however, that shortages of parts continue to be a problem. During the pandemic, it fared better than most car makers in managing supply chains, but even so ended up cutting monthly production targets repeatedly last year.

Last month, its global sales jumped 10.3% to 773,271 vehicles, driven by a blistering 53.2% climb in domestic sales. That compares with a particularly weak February last year when sales sharply declined due to a lack of semiconductors.

It said worldwide production of Toyota-branded vehicles rose 2% to 755,839, slightly ahead of its goal of 750,000. The increase comes after an 8.8% jump in January.

Domestic production continued to show a strong recovery, climbing 11.2% in February after a 30.1% surge in January.