Toyota Motor Corp will sell 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s best-selling carmaker for the third straight year. Global sales at the group, including truck unit Hino Motors and small car maker Daihatsu, fell 0.1% as record foreign sales of 8.6 million vehicles helped offset a 9.6% decline in the domestic market to 1.9 million.
Rival Volkswagen Group, in second place, earlier this month reported its lowest sales in more than a decade, at 8.3 million vehicles, as the COVID-19 lockdown in China and the war in Ukraine disrupted supply chains.
While some chip supply constraints remained for Toyota, the Japanese automaker said strong demand in Asia and increased production capacity and optimization in Asia and North America helped it increase global production by 5% in 2022. Toyota in November revised its production forecast for the current financial year to the end of March to 9.2 million vehicles from 9.7 million.
Written by : Vaishali Verma
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