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

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →