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March 29, 2010

JAPAN: Toyota posts global sales up 13% in Feb

Toyota says it sold 613,845 vehicles worldwide last month up, up 13% on the same month a year ago.

Toyota says it sold 613,845 vehicles worldwide last month up, up 13% on the same month a year ago.

The group’s global production in the same period jumped 69.2% to 734,631 units, of which 655,180 were for Toyota in an 82.7% jump for the brand.

While the company’s year-on-year growth may appear to fly in the face of its recent recall/quality crisis, analysts note that the comparison is with a very weak early 2009 and that the impact on sales of its recent bad PR is yet to show up in sales data.

“The robust figures were largely due to a rebound from its sizeable slump a year earlier. There was no surprise. The figures were within expectations,” said Mamoru Kato, auto analyst at Tokai Tokyo Research Centre, speaking to news agency AFP.

“The impact of the recalls will emerge gradually,” Mizuno Credit Authority analyst Tatsuya Mizuno told Dow Jones Newswires.

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