Toyota Is World's Top-selling Automaker Again

(RTTNews) - Japanese auto major Toyota Motor Corp. has retained its title as the world's top selling automaker in fiscal 2022 for the third straight year, by selling around 10.5 million vehicles.

The global sales were nearly flat with last year amid solid demand centered around Asia, while global production grew with increased capacity and production optimization in North America and Asia.

In the top spot, Toyota was followed by German auto major Volkswagen Group, which sold 8.3 million vehicles in 2022, down 7 percent due to supply constraints and temporary production stops.

The feat was attained despite the impact of production constraints caused by the spread of COVID-19, parts supply shortages, and increased demand for semiconductors, among other factors.

Meanwhile, Toyota's December sales and production was weak, hit by parts supply shortages and increased demand for semiconductors.

Looking ahead, Toyota said the situation remains difficult to predict due to semiconductor shortages and COVID-19.

In fiscal 2022, Toyota, including subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd., sold 10.48 million vehicles, a 0.1 percent drop from last year. Toyota brand sales were 9.57 million vehicles, down 0.5 percent from last year, and Hino sales dropped 3.4 percent, while Daihatsu sales grew 5.6 percent.

Annual sales inside Japan dropped 9.6 percent, while outside Japan grew 2.3 percent.

In the year, global production was 10.61 million vehicles, up 5.3 percent, with 5.2 percent growth in Toyota brand production to 9.03 million vehicles, 6.4 percent growth in Daihatsu and 2.7 percent rise in Hino vehicles. Production inside Japan dropped 6.2 percent, while outside Japan grew 12.5 percent.

The company noted that there was a rebound from parts supply shortages associated with the spread of COVID-19 in the previous year.

In December 2022, worldwide sales fell 1.7 percent from last year to 917,747 vehicles with 1.4 percent drop in Toyota brand; 2.2 percent drop in Daihatsu; and 13.8 percent decline in Hino vehicles. Sales inside Japan dropped 9.4 percent, while outside Japan was flat.

Worldwide production in the last month fell 11.2 percent year-over-year to 841,461 vehicles. Toyota brand production was down 13.2 percent, and Hino vehicles dropped 7.7 percent, while Daihatsu production edged up 0.3 percent.

Production inside Japan dropped 13.2 percent, and outside Japan fell 10.1 percent.