Record sales result set
Toyota Motor Corporation (TMC), the world’s most popular carmaker, has got bigger after notching up record results in 2023.
The company recorded all-time highs in sales and production last year after putting the semi-conductor shortage behind it, and increasing factory output to meet demand in the US and Europe – especially for electrified vehicles.
Toyota reports its global deliveries rose by 7.2 per cent to 11.23 million units, a total that includes Daihatsu and Hino Motors.
“Strong demand in North America and Europe helped,” says a spokesperson. “We see that demand among customers shifted to hybrid and plug-in hybrid vehicles. This is one of the reasons behind the 2023 results.”
Overseas sales also reached a record after increasing by 4.1 per cent to 8.93m. Those of hybrids, plug-in hybrids, battery electric and hydrogen fuel-cell models rose by 35 per cent to a record 3.7m.
Electrified product accounted for about 36 per cent of combined Toyota and Lexus sales. Global sales for these two brands alone also reached an all-time high – up 7.7 per cent to 10.31m. Lexus set a calendar-year record with deliveries jumping by 32 per cent to 824,258 in 2023.
The US remained Toyota’s biggest global market with 2.25m total sales. China was runner-up with 1.91m with Japan was third with 1.67. Sales in Europe increased 9.1 per cent to 1.13m
Surging deliveries rode free-flowing supply as Toyota ramped up output to record levels and factories at home and abroad saw the global microchip shortage fade into history.
TMC’s worldwide production, meanwhile, climbed by 8.6 per cent to 11.52m, including Daihatsu and Hino. Toyota and Lexus alone saw output increase 11 per cent to 10.03m. Record results were driven by highest-ever production levels at overseas plants.
Production outside Japan climbed 3.6 per cent to 7.21m units. Domestic output, meanwhile, recorded an 18 per cent increase to 4.31m, including Daihatsu and Hino.
Japan remained Toyota’s biggest production base. Output for Toyota and Lexus in Japan rose by 27 per cent to 3.37m units in 2023. China was second despite a 4.7 per cent drop to 1.75m and the US came third – up by 8.8 per cent to 1.23m.
