Toyota reported a slight drop in global sales in January due to lingering effects of the COVID-19 pandemic and a chronic shortage of semiconductors for vehicles, the automaker said in a statement.
Sales, including Daihatsu Motor and Hino Motors, fell 3.6 percent from a year earlier to 795,847 vehicles, while production rose 8.4 percent to 819,727 units, the world’s No. 1 automaker said.
The shortages were worse a year ago, resulting in an output increase last month, Toyota added.
The numbers come about a month before Lexus chief Koji Sato is set to take over as Toyota’s CEO in April, as production recovers from pandemic lockdowns, supply chain issues and a stubborn component shortage.
Last week, the company announced its biggest wage hikes in two decades, meeting union demands quickly and in full for the third year in a row.
Domestic sales and production rose year-on-year for the third month in a row, with Japan sales climbing 18 percent to 186,998 units, Toyota said.
Toyota’s third-quarter profits surpassed estimates but the automaker kept its conservative outlook for the fiscal year ending March in line with its previous forecast for operating profit of 2.4 trillion yen ($17.6 billion).
Honda’s global production fell 22 percent to 280,757 vehicles, declining for the third straight month, the company said.
Output expanded in North America but fell sharply in Asia, especially in China where production was less than half that of the prior year.
Nissan’s global output shrank 25 percent to 224,236 cars in January, the automaker said. Global sales declined 26 percent to 228,557 units.