Toyota Sold 10.5 Million Vehicles In 2022, Defends Title As World’s Top-selling Automaker

Toyota sold 10.5 million vehicles in 2022, defending its title as the world’s top-selling automaker for a third straight year.

In comparison, the Volkswagen Group sold 8.3 million vehicles last year – its lowest sales in over a decade.

Toyota sold 2.7 million electrified vehicles in 2022 (+5% more than the previous year), 2.6 million of which were hybrid models.

In November, it revised its production forecast for the current financial year through the end of March, to 9.2 million vehicles from 9.7 million.

Japanese automaker Toyota Motor Corporation said it sold 10.5 million vehicles in 2022 – nearly the same sales as in 2021, defending its title as the world’s top-selling automaker for a third straight year.

In comparison, the Volkswagen Group, the second top-selling auto brand said it sold 8.3 million vehicles last year, an annual drop of seven percent and its lowest sales in over a decade.

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Despite chip-related supply constraints, Toyota said strong demand in Asia and an increase in the production capacity helped it boost global production by 5% in 2022.

“Despite the impact of production constraints caused by the spread of Covid-19, increased demand for semiconductors, and other factors, global sales were at the same level year-on-year as a result of solid demand centered around Asia,” the Japanese car giant said.

Toyota sold 2.7 million electrified vehicles in 2022, around five percent more than the previous year, 2.6 million of which were hybrid models.

The Japanese brand last November revised its production forecast for the current financial year through the end of March, to 9.2 million vehicles from 9.7 million.

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