With more than ten million cars sold last year, Toyota rules the auto world for the third straight year – but it wasn’t without its dramas
Despite the trials and tribulations of a tough year, Toyota has emerged from 2022 comfortably on top of the global production pile.
More than 10.5 million vehicles were sold by the company and its subsidiaries, which marks a 0.1 percent drop over its 2022 result.
A horror year on the domestic front saw an almost-10 per cent fall in sales to 1.9 million in its home market of Japan, but a record tally of 8.6 million overseas sales – including 231,050 in Australia – righted the ship.
Even then, its sales were heavily impacted by chaos in supply chains, with the company reducing output estimates all year to account for shortages in key products like microchips.
It’s estimated that the company dumped at least 700,000 production slots in the 2022 calendar year and is already reporting that it will not meet its quotas for January or February.
In fact, Toyota has already admitted that it will miss its 9.7 million vehicle forecast for the Japanese financial year (which runs through to the end of March) by some half a million units.
Toyota’s score places it well above second-placed Volkswagen, which posted a claimed 8.3 million vehicles across its multiple brands in 2022.
This marked the worst sales result in more than a decade for the German giant, which was more heavily impacted by the Ukraine conflict and by supply issues out of COVID-affected China.
The Hyundai-Kia group comes in third for 2022, posting more than 6.8 million sales. This represents a drop of 5.3 percent over 2021.
NOW READ
Akio Toyoda turns in CEO role
