Toyota Will Produce More Than 10 Million Vehicle Units Globally This Year

Ranks of Battery Electric Vehicle (BEV). (Doc.Toyota Global)

Toyota affirms its intention to maintain its position as global automotive manufacturer leader by planning production and sales of around 10.3 million vehicles worldwide by 2024.

According to a Reuters report on Monday, January 15, the company plans to update their annual production record for the second time in a row with an increase in assembly numbers, driven by positive sales of hybrid-engined cars.

This increase is supported by production activity stability, including the handling of semiconductor problems and other component shortages. In detail, the manufacturer based in Aichi, Japan, aims to produce about 3.4 million vehicles domestically and another 6.9 million overseas, including the luxury Lexus brand.

Toyota has also set an annual production target of around 250,000 battery-based electric vehicles (BEVs) this year, which is planned to increase to 600,000 units by 2025. Over 11 months of 2023, Toyota has succeeded in producing 9.2 million vehicles, of which about a third of the total vehicles sold worldwide are Hybrid Electric Vehicles (HEVs).

In Indonesia, Toyota was able to produce 589,262 units of vehicles during 2023, based on data from the Indonesian Automotive Industries Association (Gaikindo), accounting for 42.2 percent of the total market share. The company continues to show its commitment to providing innovation and excellence in the global automotive industry.