Toyota Still No. 1
2023 record sales, production make it top seller four years running.
Toyota bested No. 2 seller Volkswagen last year.
IMAGE: Toyota
Toyota again topped the world’s automakers in sales as it hit company sales and production records last year in the industry’s pandemic recovery.
The Japanese company said strong demand and eased chip shortages buoyed its results to keep it in the top position for the fourth year in a row. It bested No. 2, Volkswagen.
Toyota reached 11.2 million units sold, including its luxury brand, Lexus, and the Daihatsu and Hino brands, a 7% jump. The Toyota and Lexus brands alone were up about 8% to 10.3 million.
With success often comes setbacks, and Toyota issued an apology over repeated certification “irregularities” at Toyota brands Daihatsu, Hino and Toyota Industries.
“… we deeply apologize to our customers who have been supporting affected vehicles and waiting for a long time, and also to all other stakeholders for the significant inconvenience and concern that this has caused,” the company said in a statement.
DIG DEEPER: Toyota Namesake Sings ICE's Praises
Originally posted on Auto Dealer Today
More Industry
Pennsylvania Dealership Under New Retailers
The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.
Read More →
Battery Storage Takes Priority Over EVs
U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.
Read More →
Auto Dealers Feel Better But Not Great
A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.
Read More →
New-Vehicle Sales Picture Relative
A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.
Read More →
Auto Group Acquires Third Nissan Rooftop
Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Building an Extraordinary F&I Agency
Work to determine your specialized talent, because that fact will determine everything about your agency’s future.
Read More →
Recipe for Compliance
The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.
Read More →
EVs Getting More Attractive
A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.
Read More →
EV Sales Drop in April Following Surge
North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.
Read More →