Toyota Faces Production Declines and Market Challenges in Key Regions

Global production dropped 6.2% in November as competition intensifies in the U.S. and China, while Toyota invests in EV battery recycling and plans future electric vehicle production in Shanghai.

• Toyota's global production fell for the 10th consecutive month in November, with a 6.2% year-over-year decline to 869,230 vehicles manufactured.
• Production in Japan dropped 9.3%, while U.S. output saw an 11.8% decline, reflecting lingering challenges despite resumed production of key SUV models in late October.
• In China, production decreased by 1.6%, showing slight improvement from the previous month's 9% drop, as sales of the electric sedan bZ3 and other models gained traction.
• Toyota is collaborating with U.S. federal agencies and research institutions on a $4.5 million EV battery recycling project to enhance sustainability in its supply chain.
• Looking ahead, Toyota reportedly plans to establish a new plant in Shanghai to produce electric vehicles for its Lexus brand starting around 2027, signaling a strategic response to rising competition from Chinese automakers.

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Benzinga The Japan Times