Toyota, Honda Register Higher February Sales Despite Chip Supply Crisis: Reuters

• Japanese automakers Toyota Motor Corp (NYSE:TM) and Honda Motor Co (NYSE:HMC) seem to shrug off supply chain constraints, Reuters reported.
• For February, Toyota said its group, including Daihatsu and Hino Motors Ltd, produced 884,528 vehicles globally, an 11% increase year on year.
• Reuters notes that outside Japan, Toyota produced a record number of vehicles in February despite parts shortage due to the COVID-19 outbreak.
• The automaker said it had used chips that were rendered surplus from a factory shutdown in January to tackle the chip supply crisis.
• Honda’s February production rose by 8.1% Y/Y to 344,712 vehicles.
• According to Reuters, in contrast, Nissan Motor’s (OTC:NSANY) global production for February fell 7.8% Y/Y due to semiconductor shortage.