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Toyota Motor: 2021 Sales Dropped Nearly 2% in Japan Due to Insufficient Parts Supply
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Toyota Motor's domestic vehicle sales in 2021 decreased 1.9% from the previous year to 1,475,498 units, dropping for the second consecutive year. Meanwhile market share increased 0.5 pp to 33.2%. Monthly sales until August exceeded the previous year’s level due to poor sales in 2020 triggered by the new coronavirus infection. However, sales dropped below the previous year’s level starting from September due to the resurgence of the virus in Southeast Asia which is a key supply hub for automobile parts. Corona restrictions in Southeast Asia resulted in insufficient parts supply, forcing Toyota Motor to intermittently suspend automobile production in Japan. Although Toyota Motor adjusted production plans by giving priority to models with high demand, delivery time tended to be longer than usual.