In 2024, Toyota has set target of 10.3 million vehicles globally: Nikkei

In 2024, Toyota has set target of 10.3 million vehicles globally: Nikkei

Robert Besser
17 Jan 2024, 13:51 GMT+10

• This week, the Nikkei reported that Toyota plans to produce some 10.3 million vehicles globally in 2024, again hitting its record annual production for the second straight year
• The newspaper also said that the world’s largest automaker by sales will further increase production
• The newspaper further added that Toyota aims to produce 3.4 million vehicles in Japan and 6.9 million overseas, including its luxury Lexus brand, for the calendar year to December

TOKYO, Japan: This week, the Nikkei reported that Toyota plans to produce some 10.3 million vehicles globally in 2024, again hitting its record annual production for the second straight year.

The newspaper also said that the world’s largest automaker by sales will further increase production due to strong sales of hybrid vehicles and easing automotive semiconductor and other component shortages.

The newspaper further added that Toyota aims to produce 3.4 million vehicles in Japan and 6.9 million overseas, including its luxury Lexus brand, for the calendar year to December.

Toyota’s target annual output is more than 10.5 million vehicles, Nikkei said, adding that the company has set its electric vehicle (EV) production levels at some 250,000 vehicles in 2024 and 600,000 in 2025.

Toyota said it produced 9.2 million vehicles during the first 11 months of 2023, and around a third of its global sales during that period were gasoline-electric hybrids.