Global Toyota sales boom

Toyota Motor Corporation has topped the ladder for worldwide new-vehicle sales over the first half of this year despite the global chip shortage and Covid-19 lockdowns in China.

The company registered about 5.14 million units globally in the reporting period. That was down by six per cent from a year earlier, marking the first drop in two years.

The decrease has stemmed from reduced global output, which declined by 3.8 per cent to 5.10m units, also shrinking for the first time in two years – although it managed to limit the impact of the semi-conductor shortage.

Toyota’s global sales surpassed those of rival Volkswagen, which suffered a 22.2 per cent drop in sales to 3.88m vehicles during the first half of 2022.

“Sales volume has never been our top priority,” says a spokesman for Toyota. “We will continue to prioritise safety and quality, and strive to make better cars.”

Impacted largely by the parts’ shortage, Toyota’s domestic sales decreased by 18.1 per cent to 954,173 units, with domestic output shedding 17.7 per cent to 1.74m as many cars produced in Japan incorporate cutting-edge componentry that relies on semi-conductors.

Overseas sales dropped 2.8 per cent to 4.18m, but overseas production grew by 5.6 per cent to 3.35m, registering a record high for the first half-year period thanks to expanded production capacity in China.

Honda’s first-half global sales decreased by 19.5 per cent to 1.90m units on declines in North America and Asia. Nissan saw a 23.9 per cent slide to 1.67m and Suzuki’s rose by two per cent to 1.47m on brisk sales in India.