Toyota Motor Corp. has once again secured its position as the world’s best-selling car manufacturer, maintaining its position for the third consecutive year in 2022. The Japanese giant was able to mitigate the impact of the chip shortage better than its competitors, including Volkswagen.
According to the company, global vehicle sales in 2022 were 10.48 million units, down slightly by 0.1% from the previous year. This figure includes cars produced by its subsidiaries Daihatsu Motor and Hino Motors. Global production increased by 5.3% to 10.61 million units, with increased capacities in North America and Asia helping to counter the effects of the COVID-19 pandemic and parts shortage.
Despite a decrease in global vehicle sales for the first time in two years, Toyota still outperformed Volkswagen, which saw a 7.0% drop in sales to 8.26 million vehicles due to supply chain disruptions.
In Japan, domestic production declined by 7.7% to 2.66 million vehicles, the lowest level since 1976, due to parts shortages. Domestic sales also dropped by 12.7% to 1.29 million units.
However, overseas production rose by a record 11.7% to 6.38 million units, while overseas sales increased by 1.7% to 8.28 million units, driven by strong demand in Asia.
This latest achievement cements Toyota’s dominance in the automotive industry and solidifies its status as the world’s best-selling car champion.