Business / Corporate

Toyota to fully resume global output for first time since February

Kyodo

Toyota Motor Corp. will resume automobile production in all of its manufacturing bases around the world for the first time since February, a source with knowledge of the matter said Sunday.

Toyota’s factory in Venezuela, the last where output had remained suspended due to the coronavirus pandemic, is expected to restart operations on Monday, according to the source.

Besides Venezuela, where the Japanese automaker produced only 416 vehicles in 2019, output in more than 20 other countries in which it has plants has already resumed in stages, while not yet returning to pre-coronavirus levels.

Toyota, which produced about 5.63 million vehicles overseas last year, is forecasting that global auto demand will be on a recovery trend and plans to gradually boost output.

In April, Toyota’s overseas output tumbled 66.2 percent from a year earlier, but the company saw a 53 percent decline in the following month.

As for domestic production volume in July, Toyota last month anticipated that it would be 10 percent down from its initial projection.

The rate compares with a drop of about 40 percent in June, according to the automaker.

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