Toyota, Nissan global sales soar on US demand, output stutters

Toyota's global sales rose to 840,303 units last month, led by swiftly recovering demand in North America.Nissan's global sales gained 28% last month to 348,610 units, again led by demand in North America.
By
| Updated on: 29 Jun 2021, 04:18 PM
Logo of Toyota (L) and Nissan (R)
Logo of Toyota (L) and Nissan (R)

Strong US demand for SUVs and trucks boosted Toyota Motor Corp.’s global sales by 46% in May from a year earlier, though production fell from pre-pandemic levels, hinting at a potential inventory crunch.

Toyota’s sales rose to 840,303 units last month, led by swiftly recovering demand in North America, the world’s top-selling automaker said in a statement Tuesday.

Trending Cars

Find More Cars

Unit sales were up by about a third from a year earlier in Japan as well.

(Also read | Toyota-backed self-driving startup Pony.ai considers going public)

At the same time, a prolonged chip shortage is continuing to snarl global auto production. Toyota has faired better than others due to a strong stock it keeps of key components like semiconductors, but its May output of 671,097 units was down from the 802,611 units it produced two years earlier, before the pandemic hit.

Separately, Nissan Motor Co. said Tuesday global sales gained 28% last month to 348,610 units, again led by demand in North America. Global production climbed 45% to 227,908 vehicles.

Depleted inventory may hinder US sales for Japanese automakers in the near term if production cuts continue, Bloomberg Intelligence analyst Tatsuo Yoshida wrote in a report earlier this month.

First Published Date: 29 Jun 2021, 04:17 PM IST
NEXT ARTICLE BEGINS

Provide some basic details and Get Personalized offers for

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city