Toyota Motor Corporation announced that its passenger car sales in 2023 will reach a record high of 11.2 billion units, outpacing other automakers and Volkswagen AG, securing its position as the world’s leading automaker for the fourth consecutive year. The automaker announced on Tuesday.
The company announced that its global sales, including those of its subsidiaries Daihatsu Motor Corporation and Hino Motors, increased by 7.2% year-on-year, reaching a record high of 11.2 million units in 2023. Production volume increased by 8.6% to 11.5 million units. . Meanwhile, second-place German rival Volkswagen Group announced earlier this month that deliveries would reach 9.2 million vehicles, up 12% from a year earlier. This achievement signals post-pandemic recovery as supply chain bottlenecks have been alleviated.
In 2023, total car sales for Toyota’s namesake brand and Lexus brand reached a record high of 10.3 million units. Approximately one-third of these were gasoline-electric hybrid vehicles, with battery-electric vehicles contributing less than 1%.
Despite lagging behind the global transition to electric vehicles, Toyota plans to ramp up production and expand into overseas markets in 2023, thanks to supply chain recovery and stable demand in North America and Europe. succeeded in generating profits. At the same time, demand for hybrids remains strong in Japan and stable in most parts of the world.
While the full-year 2023 numbers solidify Toyota’s dominance, it was China’s BYD that attracted much attention last year, overtaking Elon Musk’s Tesla as the world’s leading electric car maker. Shenzhen-based BYD specializes in selling electric vehicles and plug-in hybrid vehicles, and achieved sales of approximately 3.02 million units in 2023.
In comparison, Toyota sold 104,018 battery electric vehicles. The Japanese automaker had originally targeted sales of 202,000 units for the fiscal year ending in March, but revised the target to 123,000 units in November, citing challenges related to supply and demand.
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