Toyota's global output declines for ninth straight month in October

TOKYO (Reuters) - Toyota Motor (NYSE:TM )'s global output dropped for a ninth consecutive month in October, dragged lower by big falls in production in the United States and China but the decline was mild compared to previous months.

The world's biggest automaker also logged its first rise in five months for global sales, which grew 1.4% to 903,103 vehicles, a record for the month of October.

Toyota said on Thursday it produced 893,164 vehicles globally, down 0.8%. That compares with an 8% fall in September.

Production in the United States tumbled 13%, hurt by a four-month production halt of SUV models Grand Highlander and Lexus TX due to an airbag issue. Production of the models resumed on Oct. 21 and output at the automaker's Indiana plant is expected to return to normal in January.

In China, where competition against local brands remains intense, output slid 9%. Toyota also produced 13% fewer cars in Thailand amid soft demand.

In Japan, which accounts for about a third of Toyota's worldwide output, production climbed 8%, bouncing back from weak numbers a year ago when an accident at a supplier's facility led to a partial production halt at multiple plants.



In Canada and Mexico, output for the automaker was up 2% for both countries.

The production and sales figures include vehicles from Toyota's luxury Lexus brand but exclude group companies Hino and Daihatsu.

Source: Investing.com