Toyota’s May global sales jump as parts supply shortage eases

Japanese automaker Toyota Motor (7203.T) on Thursday reported a 10% jump in global sales for May from a year earlier, benefiting from growth at home and other key markets on a recovery in the supply of chips and other parts.

The company sold 838,478 vehicles globally last month, including its luxury car brand Lexus, compared to 761,466 vehicles in May 2022, when sales took a heavy hit from the stuttering parts supply because of the pandemic.

In Japan, Toyota’s sales jumped 35.1% to 116,954 units in May, outpacing a 21.5% year-on-year rise in April.

Global sales of hybrids grew 25.8% year-on-year to 261,147 units, accounting for just under a third of the total number of vehicles sold worldwide last month.

In May, the automaker sold 9,923 battery electric vehicles worldwide, including its Lexus brand, bringing the total number of battery-powered vehicles sold in the first five months of 2023 to 35,980 units.

China sales increased 9.3% year-on-year in May to 162,381 vehicles, largely in line with 162,554 units the company sold in the country in April.

This report’s information was first seen on REUTERS; to read more, click this link.