Toyota Motor achieves record global Sales to exceed10million for fourth consecutive year

Toyota Motor Corp.، the world’s biggest carmaker is poised to exceed 10 million global sales of Toyota and Lexus vehicles in 2023، setting yet another record and to keep its title as the world’s best-selling carmaker، beating Volkswagen AG for the fourth consecutive year after steady demand across North America and Europe helped sales reach new records this year، while this performance solidifies the Japanese company’s position as the leading automaker worldwide.

Toyota Motor Corp.، global sales rose 12%، the most ever for November

Toyota Motor Corp.، global sales، including that of subsidiaries Hino Motors Ltd. and Daihatsu Motor Co.، rose 12% from a year earlier to more than 986 thousand and 260 units، the most ever for the month of November، while its worldwide production reached an all-time high at 1.067 million units.

Reuters reported that Toyota Motor Corp.، the world’s biggest carmaker has been making and selling an unprecedented number of automobiles throughout the year، further securing its dominance with hybrid cars as it pushes forward with ambitious plans to mass produce electric vehicles and catch up with Elon Musk’s Tesla Inc and China’s BYD Co.

Toyota Motor Corp.، domestic sales for the month of November shot 27% higher

Toyota Motor Corp.، domestic sales for the month of November shot 27% higher، sales in both the United States and China increased by 17%، while those in Europe climbed 15%، while worldwide sales increased 14% from a year earlier and around a third of the vehicles sold far this year have been gasoline-electric hybrids..

Toyota Motor Corp.، global production jumped 11% in November to a record level، reaching an all-time high and bouncing back from last year's supply chain disruptions and benefiting from robust demand both in Japan and overseas after steady demand across North America and Europe helped sales and production reach new records in November.

Toyota Motor Corp. growth was fueled by strong demand in Japan and abroad

Toyota Motor Corp. growth was fueled by strong demand in Japan and abroad، so that، vehicle output hit a new peak، while global sales rose by 14% compared to the previous year when semiconductor shortages plagued the automotive industry worldwide and these statistics encompass Toyota’s luxury brand، Lexus.

A striking trend this year for Toyota Motor Corp.، has been the popularity of gasoline-electric hybrids، accounting for approximately a third of total vehicle sales، while Toyota Motor's small-car unit Daihatsu Motor would compensate lower-tier contractors in its supply chain to cushion the blow from an indefinite production stoppage after revelations last week of a wider safety scandal.

Daihatsu would keep production halted in Japan at least until the end of January

Daihatsu، which had already announced plans to compensate 423 direct suppliers، has said it would keep production halted in Japan at least until the end of January while authorities investigate it for safety-inspection irregularities.

Daihatsu says it has more than 4،000 companies in its supply chain that are linked to its production and more than 1،000 other firms are associated in other ways and Keita Ide a Daihatsu executive declined to provide an estimate on how much the more than one-month production stoppage and supplier compensation would cost the company، however، it is difficult to accurately calculate the impact at this point as it is unclear how long this period will last."

Toyota's chief communications officer Jun Nagata said the company would fully support its wholly owned unit، including with loans already prepared for dealer and supplier compensation if Daihatsu requested such help as well as would fully back them up in the event of a lack of funds and Daihatsu is already consulting with financial institutions to keep open various options for dealing with the cost of the stoppage، including possible bank loans.