Japanese marque defends global crown and extends its advantage over rival Volkswagen.
Toyota has retained its position as the world’s top-selling carmaker for the third consecutive year after recording 10.5 million vehicle sales in 2022.
Group sales for the Japanese company, which include its subsidiaries Daihatsu and Hino Motors, were only down 0.1 per cent from the previous year as record overseas sales of 8.6m units offset a 9.6 per cent tumble in its home market to 1.9m.
The overall total helped Toyota widen its lead over Volkswagen AG even as supply-chain disruptions continued to weigh on global automobile production.
Volkswagen sales fell seven per cent last year to 8.3m units, which was its lowest level of deliveries in 11 years.
Despite leading the global automotive industry, Toyota still says it isn’t able to make enough cars to shorten delivery times as customers report waits of months or even years for some models.
For the fiscal year beginning in April, the company has set a goal of producing as many as 10.6m vehicles.
However, it warns it may fall up to 10 per cent short of that target if it is unable to secure enough parts, such as semi-conductors.
Keyword: Toyota remains top seller