Toyota retains the title as top-selling automaker

The 2022 result was the Japanese company’s third straight year as the world’s top-selling automaker. Toyota sold 10.5 million vehicles in 2022, it said, defending its title as the world’s top-selling automaker for a third straight year.

Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1 percent as record overseas sales of 8.6 million vehicles helped offset a 9.6 percent dip in its home market to 1.9 million, Toyota said in a statement. Second-ranked rival Volkswagen Group earlier this month reported its lowest sales in over a decade, of 8.3 million vehicles, as COVID lockdowns in China and the war in Ukraine upended supply chains. While some chip-related supply constraints remained for Toyota as well, the automaker said strong demand in Asia and an increase in the production capacity and optimization in Asia and North America helped it boost global production by 5 percent in 2022. Source: Automotive News