Toyota Defends Title as World’s Top-Selling Automaker in 2022

The Toyota logo is on the bonnet for a recently launched Camry Hybrid electric automobile at a New Delhi hotel on January 18, 2019. (Anushree Fadnavis/Reuters)

TOKYO—Toyota Motor Corp. sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year.

Global sales The group, which includes Hino Motors, a truck unit, and Daihatsu small-car maker, saw a 0.1o% drop in sales as records overseas sales of 8.6 millions vehicles offset a 9.6 per cent dip in its home markets to 1.9million.

The second-ranked Volkswagen Group reported earlier this month its lowest sales in more than a decade with 8.3 million vehicles. This was due to COVID-19 lockdowns and disruptions in supply chains.

Toyota acknowledged that there were still some supply restrictions for chips, but it said strong demand in Asia was resulting in an increase in the ahref=”https://www.theepochtimes.com/t-production”>production It was able to increase global production by 5 per cent through optimization and capacity in Asia and North America.

Toyota revised its production forecasts for the current financial years through March to 9.2 Million vehicles, from 9.7 Million in November.