Toyota Records 4th Straight Month Of Production Growth Amid Strong US Demand

Benzinga

Toyota posted its fourth consecutive month of production growth in September, led by 28.5% higher U.S. output and rising hybrid demand. The automaker is expanding EV efforts with Sumitomo to develop solid-state battery materials.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Toyota Motor Corp. reported its fourth straight month of production growth in September,

00:07driven by surging U.S. demand for hybrid vehicles, according to Benzinga.

00:11The automaker's global production rose 11.1 percent, U.S. output jumped 28.5 percent,

00:18and electrified vehicle sales increased 5.8 percent. Toyota's production in China rose 16 percent,

00:24global sales increased 3 percent, U.S. sales climbed 14.2 percent, and year-to-date sales

00:30grew 5 percent. The company previously reported eight consecutive months of growth in August,

00:35with U.S. sales up 13.6 percent on strong hybrid demand. Toyota partnered with Sumitomo Metal

00:42Mining to develop cathode materials for solid-state batteries. For all things money, visit Benzinga.com.

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