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Investing.com-- Toyota (NYSE:TM) Motor Corp (H:7203) on Friday reported a 6% year-on-year increase in global production for February, helped by a jump in domestic output.
The company manufactured 779,790 vehicles in Feb, up 5.8% from last year.
This marks the second consecutive month of growth, driven primarily by a 16% surge in domestic output following a recovery from a certification scandal. Overseas production remained relatively flat, with less than a 1% increase.
Global sales also rose 6%, supported by strong demand in Japan and key international markets.
Notably, North American production declined by 1%, and exports from Japan to the U.S. decreased by the same margin.
These developments come as President Donald Trump announced on March 26 the imposition of a 25% tariff on all imported automobiles and parts, effective April 2.
The tariffs aim to bolster domestic manufacturing in the U.S. but have raised concerns about potential disruptions to global supply chains and increased costs for automakers like Toyota.
Shares of the company were trading 4.7% down as of 05:20 GMT.
Industry analysts warn that Toyota, which has significant manufacturing operations in the U.S., may need to reassess its production and export strategies in light of these tariffs.