Toyota's Global Production Declines for the Ninth Consecutive Month in October

Forex - Toyota Motor's global production declined in October for the ninth consecutive month due to significant drops in manufacturing in the US and China, although the decrease was more moderate compared to previous months.

Toyota recorded its first increase in global sales in the last five months, reaching 903,103 vehicles, marking a 1.4% increase and setting a record for October.

The company stated that it produced 893,164 vehicles globally, representing a 0.8% decline.

In the United States, production fell by 13% due to a four-month halt in the manufacturing of SUV models Grand Highlander and Lexus TX caused by an airbag issue. Production of these models resumed on October 21, and output at the automaker's Indiana plant is expected to return to normal in January.

In China, where competition against local brands is intense, production decreased by 9%. Toyota also produced 13% fewer cars in Thailand due to weak demand.

In Japan, which accounts for about one-third of Toyota's global production, output rose by 8%, bouncing back from weak figures caused by a supplier's facility accident a year ago that led to partial shutdowns across multiple plants.

In Canada and Mexico, the automaker's production increased by 2% in both countries. The production and sales figures include vehicles from Toyota's luxury Lexus brand but exclude subsidiaries Hino and Daihatsu.