Toyota plans record global output of 10.3 million units in 2024

Economy

Toyota Motor Corp. had notified its parts suppliers by Tuesday that it plans to produce a record 10.3 million vehicles globally this year, refreshing an all-time high for the company for a second straight year, supported by an easing chip shortage and robust demand for hybrid cars.

The target, according to Toyota’s major parts suppliers, is for Toyota and Lexus brand cars and does not include production by its small-car unit, Daihatsu Motor Co., which last month stopped all shipments at home and abroad following its discovery of safety test cheating.

The world’s biggest automaker produced 9.23...

Kyodo News

Kyodo News