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January 31, 2023

Toyota Is World's Best-Selling Car Brand For 3rd Straight Year

Toyota has successfully defended its title as the world’s top-selling automaker for the third straight year. In 2022, sales in the group which includes Daihatsu and Hino, reached 10.5 million units.

Of the 10,483,024 vehicles it sold last year, around 9,566,961 units are from Toyota/Lexus, while 766,091 units are from Daihatsu and 149,972 units are from Hino. Sales outside of Japan reached 8.6 million vehicles (up 2.3 percent) helping offset a 9.6 percent dip in its home market to 1.9 million. Overall sales figures remained flat (down 0.1 percent).

In the Asia-Pacific region, China is Toyota’s largest market with full calendar sales reaching 1.94 million vehicles in 2022 (down 0.2 percent). In second is Indonesia with 330,498 (up 13.4 percent), and in third is Thailand with 288,810 (up 13.4 percent). The Philippines ranks fourth with 174,106.

The Philippines is also the second fastest growing market for Toyota in Asia-Pacific with year-on-year sales up 34.3 percent, despite its high base. Malaysia, with its lower base of 101,035 is in first with a 39.6 percent growth.

While some chip-related supply constraints remained for Toyota as well, the automaker said strong demand in Asia and an increase in the production capacity and optimization in Asia and North America helped it boost global production by 5 percent in 2022.

Production at its Santa Rosa, Laguna assembly plant reached a total of 49,630 units in 2022, up 1.8 percent.

Second-ranked rival Volkswagen Group earlier this month reported its lowest sales in over a decade, of 8.3 million vehicles, as COVID-19 lockdowns in China and the war in Ukraine upended supply chains.

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