Toyota Motor Corp (NYSE:TM) reported a sales growth of 10.1% year-on-year for the month of May, to 838,478 vehicles.
Worldwide sales, including those for subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd., improved 10.7% to 906,715 vehicles.
The global sales growth in May marks the fourth consecutive month of Y/Y increase.
Worldwide production for Toyota increased 33.4% Y/Y to 847,000 vehicles.
Also Read: Toyota Gets $841M Support From Japan To Boost Domestic EV Battery Capacity
Sales and production were both up year-on-year as a result of a recovery from the impact of semiconductor shortages, in addition to a rebound from the impact of the spread of COVID-19 and semiconductor shortages in the previous year.
Year-to-date sales for Toyota climbed 4% to 4.038 million units and production rose 11.5% to 3.979 million vehicles.
Also Read: Toyota Unveils Plans For EV Innovation And New Battery Technologies
Price Action: TM shares closed higher by 1.86% at $160.11 on Wednesday.
