Japanese auto giant, Toyota Motor, has maintained its position as the world’s leading automaker for the fourth consecutive year, achieving sales of 11.2 million vehicles for the year 2023.
The company faced challenges posed by governance issues involving certification test procedures for cars and engines, however, Toyota still reported a 7.2% increase in global group sales in 2023. This figure includes sales from its subsidiaries Daihatsu and Hino Motors, as well as affiliate Toyota Industries.
During an event to unveil the vision for the Toyota group, Chairman Akio Toyoda expressed his deepest apologies to customers and stakeholders, acknowledging the inconvenience caused by the successive irregularities. The company highlighted one of its core attitudes for employees: “Be honest and make things in a right way.”
Originally scheduled for February 14, the event was moved forward in response to the recent governance issues at Toyota’s group companies. Toyota’s global group sales have surpassed 10 million vehicles for nine of the past 10 years, with 2020 being the exception due to the impact of the COVID-19 pandemic.
In comparison, the second-ranked automaker, Germany’s Volkswagen (VW) Group, reported a 12% increase in deliveries in 2023, reaching 9.2 million cars.
Despite the success in global sales, Toyota faces challenges ahead. Daihatsu recently suspended shipments of all its cars following a safety scandal investigation, leading to a 25% slump in global production to 121,000 vehicles in December.
Toyota has also suspended shipments of certain models, including the Hilux pickup truck and Land Cruiser 300 SUV, after an independent panel uncovered wrongdoing in tests for diesel engines developed by supplier Toyota Industries.
The automotive giant remains committed to addressing these challenges while maintaining its focus on providing quality vehicles to customers worldwide.