According to a statement released on Monday, Toyota Motor Corp. (7203.T) defended its position as the world’s top-selling automaker for the third consecutive year by selling 10.5 million vehicles in 2022.
The group’s global sales, which include truck unit Hino Motors (7205.T) and small car maker Daihatsu, decreased 0.1 percent due to record overseas sales of 8.6 million vehicles compensating for a 9.6 percent decline in its domestic market to 1.9 million.
Volkswagen Group, ranked second (VOWG_p. This month, DE) reported 8.3 million vehicles sold, its lowest level in over a decade, as supply chains were disrupted by COVID-19 lockdowns in China and the war in Ukraine.
Toyota said that strong demand in Asia, an increase in production capacity, and optimization in Asia and North America helped it boost global production by 5% in 2022, despite the fact that some chip-related supply constraints remained.
From 9.7 million vehicles in November, Toyota lowered its production estimate for the current fiscal year through March to 9.2 million.