TOKYO (Reuters) – Toyota Motor said on Friday its global production rose for the second consecutive month in February, driven by higher output and stronger sales in Japan after recovering from a certification scandal in its home market last year.
Global output for the world’s biggest automaker increased 6% to 779,790 vehicles year-on-year, with domestic production up 16% and that in other countries growing less than 1% last month.
Toyota’s production in North America dropped by 1%, while car shipments from Japan to its largest market, the United States, also declined by 1%.
The company’s global revenue grew 6% in the reported month, supported by a 28% spike in domestic sales and a 2% rise in overseas sales.
U.S. President Donald Trump unveiled on Wednesday a 25% tariff on imported cars and light trucks to take effect on April 3.
Trump’s trade policies have sparked global uncertainty, with investors concerned about potential supply chain disruptions, reduced investment, and the looming threat of inflation jeopardizing global economic growth.
In North America, Toyota’s sales fell 7%, though the company attributed the decline to fewer operating days and an inventory shortage of hybrids and other vehicles, while noting that demand for its vehicles remained strong.
The production and sales figures include its luxury Lexus brand.
(Reporting by Daniel Leussink; Editing by Sherry Jacob-Phillips)
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