Toyota Sets New Global Vehicle Sales Record
Toyota's chairman said Tuesday he was "ashamed" of recent scandals involving subsidiaries of the Japanese auto giant, as the firm announced record vehicle sales of 11.2 million across its brands last year.
The bumper figure - an industry record - sees Toyota retain its position as the world's top-selling automaker for the fourth successive year, thanks to a recovery in demand and easing chip shortages.
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Taking only the Toyota and Lexus brands, global volume sales totalled 10.3 million units, but growth fell for Daihatsu, which builds mini-vehicles and is embroiled in a rigged safety test scandal.
Truck and bus-maker Hino, which has also been hit by a scandal related to rigged tests of its engines in Japan, saw volume sales sink almost 10 percent.
It came a day after Toyota said it was suspending shipments of 10 models that use diesel engines linked with testing irregularities at an affiliate, Toyota Industries.
Board chairman Akio Toyoda bowed in apology at a press conference on Tuesday and said he was ultimately responsible for the misconduct.
"I deeply apologize for the repeated wrongdoings by Hino Motors, Daihatsu Motor, and Toyota Industries that have caused troubles and worries to customers and stakeholders," he told reporters.
"They lost sight of the values and priorities that should have been upheld," he said, adding that he was "ashamed" of the situation.
"It will take time to recover the trust back from our customers," Toyoda said, promising to lead a "transformation".
Top-Selling Automaker
Toyota's total vehicle sales figure was a jump of 7.2 percent on-year and compares with 9.2 million for Germany's Volkswagen Group, whose unit sales soared 12 percent. South Korea's Hyundai-Kia retained third place in 2023 with 7.3 million units sold, up 6.7 percent.
In terms of market value, however, Tesla remains number one ahead of the Japanese giant.
Toyota credited for its performance "solid demand in each region, in addition to easing semiconductor shortages in each region."
Tuesday's figure combined sales for the Toyota, Lexus, Daihatsu and Hino brands, and beat Toyota's own previous record of 10.7 million set in 2019, the year before it overtook Volkswagen.
Volkswagen's 2019 unit sales of 10.97 million was the previous industry record.
