Toyota production in Vietnam fell 34.7% year-on-year to 11,505 units in April-September 2023, or the first half of fiscal year 2024, according to a report by the Japanese automobile giant.
As a result, Vietnam accounted for 0.23% of Toyota’s global production of 5.06 million vehicles in the period. Vietnam’s reduced production went against Toyota’s global production growth of 12.8% and Asia (excluding Japan)’s growth of 1.8%.
In the six-month period, Japan was Toyota’s biggest production hub with 1.69 million units, up 31.5% year-on-year. Outside its homeland, Toyota’s biggest production bases were China with 886,623, down 7.3%; the U.S. with 630,876, up 7.9%; Thailand with 297,317, down 2.2%; and Canada with 266,547, up 14.4%.
Toyota attributed the reduced output in China to the intensifying competition and compliance with China’s new VI-b emission standards. Meanwhile, production in the U.S. increased thanks to solid demand.
Regarding production in January-September, Toyota said the figure for Vietnam was 16,318, down 35.4% year-on-year. Meanwhile, the global figure was up 7.4%, with Japan as the biggest contributor with 2.5 million units, China with 1.26 million, the U.S. with 902,545, and Thailand with 475,949.
Toyota noted its global sales figure in April-September 2023 was 5.17 million, up 9.1% year-on-year. The most sales were in the U.S. with 1.16 million, China with 1 million, and Japan with 790,168. Vietnam’s figure was 25,857, down 44.2%