Toyota Motor (NYSE:TM) revealed Thursday that the company reached record production number in August as the automaker’s global production climbed 4% from the same period a year earlier.
Domestic production for the company increased by 22% compared to the previous year, compensating for a 2% decrease in production overseas.
Despite a malfunction that temporarily halted operations at all of its domestic assembly plants for a day last month, production was minimally affected.
Toyota recorded a remarkable 321% surge in production in India, where it is reaping the benefits of its collaboration with Suzuki, achieving a total output of slightly more than 32,000 vehicles.
Toyota also recorded a 9.8% jump in global sales for the month to 853,285 vehicles, also a record for the month.
While world's biggest automaker recorded a near 7% drop in China sales, domestic sales experienced a remarkable surge of around 46%, while sales in the United States increased by 15%.
The automaker achieved sales of 11,880 battery electric vehicles worldwide in August, pushing the cumulative number of battery EVs sold during the initial eight months of 2023 to approximately 65,000, with the vast majority of them being sold in international markets.
Shares of TM are down 0.22% in afternoon trading on Thursday.