Toyota Motor has achieved a record-breaking milestone by selling 11.2 million vehicles in 2023, securing its position as the world’s top-selling automaker for the fourth consecutive year.
The Japanese automaker reported a significant 7.2% increase in global group sales, encompassing units such as truck manufacturer Hino Motors and small-car maker Daihatsu. This achievement was bolstered by the outstanding performance of overseas sales, reaching a record-breaking 8.9 million vehicles.
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While facing competition from second-ranked German rival Volkswagen Group, which reported a 12% increase in deliveries to 9.2 million cars, Toyota’s global dominance persisted. The post-pandemic recovery and the alleviation of supply chain bottlenecks contributed to Volkswagen’s positive performance.
Toyota’s sales of parent-only vehicles, which encompass its namesake brand and Lexus, reached an all-time high of 10.3 million vehicles in 2023. Notably, gasoline-electric hybrids constituted approximately one-third of these sales, showcasing the sustained popularity of hybrid models. However, battery electric vehicles accounted for less than 1% of the total sales, highlighting the current market landscape in terms of electric vehicle adoption.
