Toyota retains top-selling automaker title for 4th consecutive year
In 2023, Toyota Motor achieved a remarkable milestone by selling a record-breaking 11.2 million vehicles, securing its spot as the world's top-selling automaker for the fourth year in a row. Toyota saw a 7.2% increase in global group sales, which includes truck unit Hino Motors and small-car manufacturer Daihatsu. This impressive feat was fueled by an all-time high of 8.9 million vehicles sold overseas.
Toyota's EVs account for less than 1% of total sales
About one-third of Toyota's sales were gasoline-electric hybrids, while electric vehicles made up less than 1% of the total sales. Toyota's vehicles, encompassing its namesake and Lexus brands, also reached a new high with 10.3 million vehicles sold in 2023. Customers are reporting waits of months or even years for certain models. For the fiscal year beginning in April, Toyota aims to produce 10.6 million vehicles. However, the final shipments could be 10% lower due to limited availability of semiconductors.
Volkswagen reports post-pandemic recovery in sales with 12% surge
German automobile giant Volkswagen Group trails Toyota at the second rank. It experienced a 12% increase in deliveries last year, totaling 9.2 million cars. This signifies a post-pandemic rebound for the automaker as supply chain issues began to resolve. Despite the obstacles faced by the automotive industry, both Toyota and Volkswagen have shown remarkable resilience and adaptability in their operations and sales strategies.
