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.
September 30, 2025 will be remembered as a landmark day for both the South African automotive sector and for Foton globally, says the Chinese manufacturer after its first pre-production Completely Knocked Down (CKD) Foton pickup rolled off the assembly line at its local plant.
Chinese automotive giant, Chery, is engaged in talks with multiple car manufacturers in South Africa about sharing production facilities to build its vehicles locally, the company's regional chief has revealed to Reuters.
Motor industry leaders are anticipating a sharp fall in American electric vehicle sales after the elimination of a vital R135 000 tax incentive for purchasers.
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Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster than you is a maniac?
George Carlin
September 30, 2025 will be remembered as a landmark day for both the South African automotive sector and for Foton globally, says the Chinese manufacturer after its first pre-production Completely Knocked Down (CKD) Foton pickup rolled off the assembly line at its local plant.
Chinese automotive giant, Chery, is engaged in talks with multiple car manufacturers in South Africa about sharing production facilities to build its vehicles locally, the company's regional chief has revealed to Reuters.
Motor industry leaders are anticipating a sharp fall in American electric vehicle sales after the elimination of a vital R135 000 tax incentive for purchasers.
