Absa, NADA sign formal partnership agreement
Absa has taken another step towards becoming the bank of the auto industry by signing a formal collaboration agreement with the National Automobile Dealers’ Association (NADA).
- Industry News
- 4 July 2025
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.
Absa has taken another step towards becoming the bank of the auto industry by signing a formal collaboration agreement with the National Automobile Dealers’ Association (NADA).
Chinese automakers are pushing to unlock Africa's underdeveloped potential, with a focus on electric and hybrid vehicles.
Remember a couple of years ago when Xaomi smartphones entered the local market and no one really knew the brand?
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You can't build a reputation on what you are going to do.
Henry Ford
Absa has taken another step towards becoming the bank of the auto industry by signing a formal collaboration agreement with the National Automobile Dealers’ Association (NADA).
Chinese automakers are pushing to unlock Africa's underdeveloped potential, with a focus on electric and hybrid vehicles.
In today's interconnected automotive market, New Car Assessment Programmes (NCAPs) play a crucial role in determining the safety credentials of vehicles that reach South African showrooms.