Author: Less words
According to media reports, Toyota Motor Corporation (TM.NYSE) announced that a total of 1.944 million vehicles were sold in the Chinese market in 2021, an increase of 8.2% year-on-year. Its two joint ventures in China, FAW Toyota and GAC Toyota, sold 846299 units and 840396 units respectively, up 7.5% and 10.5% year-on-year, respectively.
Source: Multiplying Association
While Toyota's sales in China have reached new highs, they are still under the pressure of supply chain shortages. According to Toyota's official website, since 2022, Toyota has adjusted its production plans in Japan due to the spread of the epidemic and the shortage of parts supply. In the Chinese market, Toyota has not yet reported a shortage of parts, but recently according to the Financial Associated Press, due to the impact of the new crown pneumonia epidemic in Tianjin, FAW Toyota confirmed that its factory in Tianjin has suspended production.
In 2021, Toyota Motor will have a large-scale recall. According to the recall information of the National Market Supervision Administration, Toyota Motor has recalled a total of 1.285 million vehicles in 2021, of which the largest in December 2021, Toyota Motor recalled 900,000 vehicles, involving models including Camry, Asian Dragon, Willanda, RAV4 Rongfang and other best-selling models, Toyota Motor's recall products also include Lexus related products.
(This article is for reference only and does not constitute investment advice, and you do so at your own risk)
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