- Toyota Motor Corp (NYSE:TM) reported a 23% increase in global vehicle production to 771,382 units in the month of October.
- The automaker produced 924,132 vehicles, including the brands Toyota, Daihatsu, and Hino.
- Toyota’s year-to-date vehicle production rose 7.7% to 7.49 million vehicles. Year-to-date production rose 7.6% to 8.78 million vehicles for all Toyota, Daihatsu, and Hino.
- Worldwide sales jumped 22.8% to 832,373 units in October for Toyota and rose 24.8% to 918,756 units for all Toyota, Daihatsu, and Hino.
- Toyota said both global sales and production exceeded the previous year’s level in October due to solid demand, in addition to a rebound from the impact of parts supply shortages associated with the spread of COVID-19 in Southeast Asia in the previous year.
- However, the automaker warned that the situation remains difficult to predict due to semiconductor shortages and COVID-19.
- Toyota expects to produce 9.2 million vehicles this fiscal year ending March 2023, down from the previous forecast of 9.7 million.
- Price Action: TM shares closed lower by 1.19% at $146.51 on Monday.
- Photo Via Company
What’s Going On With Super Micro Computer Stock?
Microsoft delivered better-than-expected earnings after the bell Thursday. Microsoft CEO Satya Nadella highlighted strong demand for the company's offerings, particularly in the field of artificial intelligence (AI). SMCI shares also rose Thursday after Meta reported its first-quarter results and increased its capital expenditures outlook amid the company's AI efforts.
