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Toyota plans to ramp up production in 2024. Photo: Reuters. |
According to Carscoops, Toyota aims to produce around 10.3 million cars in 2024. This is said to be a record for a Japanese automaker in terms of production volume.
Prior to the first 11 months of 2023, Toyota confirmed that it had produced a total of 9.23 million cars. Going into the new year, Toyota plans to produce 3.4 million vehicles in Japan alongside 6.9 million cars at overseas plants, including the luxury brand Lexus.
Nikkei Asia magazine published Toyota’s estimated production figures for 2024, but the Japanese automaker denied it and said it was not the figure they released.
Also in the report published by Nikkei Asia, Toyota plans to produce around 250,000 electric vehicles in 2024 before increasing the production of electric cars to 600,000 in 2025.
The increasing demand for hybrid models is the main reason for the growth in production and sales for Toyota over time. In the first 11 months of 2023, Toyota announced that it sold a total of 3.1 million HEV cars, 24,127 MHEV models, along with 112,807 plug-in hybrid cars.
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Sales of Toyota’s hybrid cars have performed well in 2023. Photo: TMV. |
In contrast to the hybrid car segment, Toyota’s pure electric vehicles have had a relatively challenging year. The Japanese automaker said it only sold 95,220 pure electric cars in the first 11 months of 2023.
While showing significant growth compared to the 24,466 electric cars recorded in 2022, Toyota’s figures still lag behind many competitors in the market.
Toyota’s car production in Japan during the first 11 months of 2023 increased by 27.3% compared to the same period last year. At overseas plants, Toyota’s car production reached 6.13 million units, equivalent to a 4% growth rate compared to the same period.
If the total sales of subsidiary brands such as Hino and Daihatsu are combined, Toyota has completed production of over 10.61 million cars of all types from January to November 2023.
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