Toyota Motor sold 10.5m vehicles in 2022, making it the world’s top selling automaker for a third straight year.
Global sales for the group, including truck unit Hino Motors and small car maker Daihatsu, inched down 0.1% as record overseas sales of 8.6m vehicles helped offset a 9.6% dip in its home market to 1.9m, Reuters reported.
Go deeper with GlobalData
Second ranked Volkswagen Group earlier this month reported its lowest sales in over a decade, of 8.3m vehicles, as Covid-19 lockdowns in China and the war in Ukraine upended supply chains.
While some chip-related supply constraints remained for Toyota as well, Reuters noted, the Japanese automaker said strong demand in Asia and an increase in production capacity and optimisation in Asia and North America helped it boost global production by 5% in 2022.
Toyota in November revised its production forecast for the current financial year through the end of March, to 9.2m vehicles from 9.7m, Reuters added.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
