Toyota Retains Crown as World’s top-Selling Vehicles in 2023

Toyota Retains Crown as World’s top-Selling Vehicles in 2023

Toyota Retains Crown as World’s top-Selling Vehicles in 2023

Toyota Retains Crown as World’s top-Selling Vehicles in 2023

Advertisement

Toyota Motor has secured its position as the world’s top automaker for the fourth consecutive year with a record-breaking 11.2 million vehicle sales in 2023. However, despite this achievement, Chairman Akio Toyoda issued apologies for recent scandals affecting group companies like Daihatsu and Hino Motors.

Global group sales for Toyota witnessed a significant 7.2% increase, demonstrating its dominance in the automotive industry by exceeding 10 million vehicles sold for nine out of the past ten years. Only in 2020, due to the COVID-19 pandemic’s impact, did the company fall short of this milestone. Despite impressive sales figures, recent safety-related incidents have presented challenges.

German automaker Volkswagen Group reported a 12% increase in deliveries in 2023, reaching 9.2 million cars. While Toyota maintains robust global sales, it faces difficulties stemming from safety-related scandals, including Daihatsu’s suspension of car shipments and Toyota Industries’ diesel engine test scandal, leading to temporary halts in specific model shipments.

These incidents prompted a reevaluation of Toyota’s commitment to values like honesty and doing things the right way, emphasized in the company’s recent vision event. Concerns about Toyota’s longstanding reputation for quality and safety have arisen due to discrepancies within its group companies.

As Toyota addresses these challenges, the automotive industry closely watches how the company manages and rectifies these issues to uphold its position in the highly competitive market.

Advertisement

 

 

 

Advertisement
Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Follow us on Google News.


End of Article

Next Story