Companies

Toyota Retains Title as World’s Biggest Auto Seller for 4th Year

Yomiuri Shimbun file photo
Toyota Motor Corp. head office

Jiji Press

17:50 JST, January 30, 2024

TOKYO (Jiji Press) — Toyota Motor Corp. retained its title as the world’s biggest vehicle seller for the fourth consecutive year in 2023, eclipsing Germany’s Volkswagen AG.

The Japanese automaker said Tuesday that its worldwide vehicle sales, including those of subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., rose 7.2% from 2022 to a record high of 11,233,039 units.

The increase reflected a recovery in domestic and foreign vehicle production thanks to the easing of a semiconductor shortage.

Toyota’s parent-only global sales climbed 7.7% to 10,307,395 units, surpassing 10 million for the first time.

Volkswagen’s sales totaled around 9.24 million units.

The Toyota group’s global vehicle production surged 8.6% to a record 11,518,303 units, while Toyota’s parent-only worldwide output jumped 11.1% to 10,033,171 units, topping 10 million for the first time.

Sales of hybrid vehicles were strong in North America and Europe, while demand for Lexus luxury vehicles was robust in Japan.