Toyota Motor Corp plans to produce about 10.3 million vehicles globally in 2024, breaking its record annual production for the second consecutive year, the Nikkei reported.
Toyota is preparing to increase production thanks to strong sales of hybrid vehicles. The shortage of automotive semiconductors and other components is also easing, the Nikkei says.
For the calendar year to December, the world's biggest automaker by sales aims to produce 3.4 million vehicles in Japan and 6.9 million overseas, the report said. The figures include its luxury Lexus brand.
The report was not something the company had announced, a Toyota spokesperson said without commenting further.
Toyota will target an annual output of over 10.5 million vehicles, Nikkei says. It added that the company set electric vehicle production levels at approximately 250 000 vehicles in 2024 and 600 000 units in 2025.
Toyota produced 9.2 million vehicles during the first 11 months of 2023, it said last month. Around a third of the vehicles it sold worldwide over that period were gasoline-electric hybrids.
Cars.co.za will unveil its first Industry Report at DealerCon 2025 – a landmark event designed to analyse the past decade of seismic change in the motor industry and project what lies ahead.
For decades, buying a car has been as much about emotion as practicality. Shiny brochures, polished showroom floors and persuasive sales talk often overshadowed the cold, hard numbers of ownership. But today, where information is currency, consumers are no longer satisfied with glossy marketing – they want data, and they want it now.
According to a Reuters report, South Africa is engaged in discussions with Chinese automotive manufacturers to encourage local investment, with at least one company showing considerable interest in establishing production facilities in the country, a senior government official revealed on Wednesday.
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You can't buy happiness but you can buy cars and that's kind of the same thing.
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Cars.co.za will unveil its first Industry Report at DealerCon 2025 – a landmark event designed to analyse the past decade of seismic change in the motor industry and project what lies ahead.
For decades, buying a car has been as much about emotion as practicality. Shiny brochures, polished showroom floors and persuasive sales talk often overshadowed the cold, hard numbers of ownership. But today, where information is currency, consumers are no longer satisfied with glossy marketing – they want data, and they want it now.
According to a Reuters report, South Africa is engaged in discussions with Chinese automotive manufacturers to encourage local investment, with at least one company showing considerable interest in establishing production facilities in the country, a senior government official revealed on Wednesday.
