July sales jump helps Toyota reach monthly record

On Wednesday, Toyota Motor (NYSE: TM) unveiled their sales figures for July, indicating an 8% surge compared to June, reaching a record-breaking 859,506 vehicles in global sales. Additionally, the company noted a 15% upswing in global production for the same month.

For a continuous period of six months, Toyota has consistently achieved an increase in global sales compared to the previous year. Additionally, their production has maintained a steady upward trajectory for seven months. This pattern emphasizes the company’s recovery from the challenges presented by disruptions in the supply chain and the enforcement of COVID-19 containment measures in the prior year.

The figures for August, which we won’t have until next month, might be affected by the trouble on Tuesday. That’s when the Japanese car manufacturer had to stop production at 14 of its local factories. The reason was a computer system that broke down while managing orders for vehicle parts.

Two people who know the situation told the media that the outage occurred during a system update. Toyota has refrained from disclosing specific information about the issue’s nature, stating that it was not the result of a cyber attack.

The company restarted operations Wednesday.

Shares of TM are up 0.35% in pre-market trading on Wednesday.