Having bought a report 11.2 million automobiles in 2023, Toyota retained its place because the world’s top-selling automaker for the fourth successive yr, ending properly above second-placed Volkswagen Group, which noticed gross sales rising by 12% to 9.2 million automobiles. Hyundai-Kia retained third place with 7.3 million models bought, which was up 6.7% from the earlier yr.

The Japanese automaker’s tally, which represents the mixed gross sales for its Toyota, Lexus, Daihatsu and Hino manufacturers, eclipsed its personal earlier report of 10.7 million models set in 2019, the yr earlier than it overtook Volkswagen. The corporate attributed its sturdy efficiency to strong demand in every area in addition to the easing up of semiconductor shortages, AFP experiences.

Counting solely Toyota and Lexus automobiles, its international quantity gross sales totalled 10.3 million models. Nonetheless, development fell at Daihatsu, and the security testing scandal and ensuing manufacturing shutdown till mid-February isn’t anticipated to enhance issues this yr. Gross sales at truck and bus-maker Hino additionally dropped by nearly 10%.

Whereas gross sales of its hybrid fashions elevated by 31.4% to three.4 million models final yr, its pure electrical efficiency is lagging behind that of the competitors. In 2023, the model bought simply 104,018 EVs, properly beneath the 1.81 million automobiles bought by Tesla and 1.57 million models managed by Chinese language EV maker BYD.

Nonetheless, Toyota CEO Koji Sato has stated that by 2025, the corporate plans to have an electrified model for each Toyota and Lexus mannequin globally, and is aiming to promote 1.5 million EVs yearly by 2026 and to three.5 million models by 2030.

Whereas it’s undoubtedly anticipating to high the gross sales charts once more this yr, the corporate will certainly must keep away from additional points such because the current one involving its diesel engines.

Earlier this week, the automaker stated it was suspending shipments of 10 fashions that use engines linked with testing irregularities at affiliate agency Toyota Industries Company (TICO), which builds diesel powertrains for it. The corporate stated that the suspension of shipments will have an effect on about 36,500 Toyota automobiles produced each month.

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