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Toyota hits record output, sales in FY2023/24

Toyota Motor said on Thursday its global sales and production hit record highs in the year ended March 31, thanks to robust demand in each region and the lack of semiconductor supply constraints it had to endure in recent years. Toyota's parent-only global sales rose 7.3% from a year earlier to 10.31 million units, surpassing the 10 million mark for the first time, while its output came to 9.97 million units, up 9.2% on the year. The world's largest automaker by volume, however, saw its sales and production fall in March amid fierce competition in China, the world's largest auto market.