Toyota solidified its position as the leading auto manufacturer last year, according to figures released by the company on Tuesday. Outpacing its closest competitor, Volkswagen, Toyota sold 11.2 million vehicles globally over the past year, which represents a 7.2% increase compared to the previous year. This achievement marks the fourth consecutive year that Toyota has secured the number one spot in global car sales, setting a new annual record among all automakers.
Volkswagen reported selling 9.2 million vehicles, showing a 12% increase from the previous year. Meanwhile, South Korea’s Hyundai-Kia took third place with 7.3 million car sales, up 6.7%.
The bulk of Toyota’s sales were attributed to cars bearing the Toyota or Lexus brand, with the remaining sales coming from its subsidiaries, Daihatsu and Hino Motors. The United States was Toyota’s largest market, accounting for 2.6 million sales—a 7% rise from the previous year. Hybrids made up about one-third of Toyota’s total sales, while fully electric vehicles, an area in which Toyota has been a late entrant but is now heavily investing, accounted for less than 1% of its total sales.
However, the company has faced some challenges recently. Toyota announced it was halting shipments of several models, such as the Hilux truck and Land Cruiser 300 SUV, due to issues discovered in tests of diesel engines developed by Toyota Industries. Additionally, long-standing safety testing issues were revealed at Daihatsu late last year, and Hino Motors was found to have falsified emissions data in 2022.
In light of these challenges, Toyota’s chairman, Akio Toyoda, who is the great-grandson of the company’s founder, addressed the situation. He expressed his deepest apologies to customers and stakeholders for the disruptions and concerns caused by the consecutive issues at Hino Motors, Daihatsu, and Toyota Industries. He emphasized his commitment to leading reforms within the group to navigate these problems.