Toyota’s global car sales in fiscal year 2023, top 10 million

Tokyo (Jiji Press) – Toyota Motor Corp. said Thursday that global car sales for parent companies alone rose 7.3 percent in fiscal 2023 from the previous year to 10,309,457 units, surpassing 10 million units for the first time.

Sales increased for the third year in a row, driven by strong hybrid vehicle sales, mainly in North America, and robust sales in Europe.

In the year ended March, Toyota’s single parent sales in Japan rose 8.7 percent to 1,529,818 units for the second year in a row, while overseas sales rose 7.0 percent to a record of 8,779,639 units, which represented an increase for the third year in a row.

But global sales fell short of Toyota’s target of 10.4 million units, due to the test-cheating scandal at subsidiary Daihatsu Motor Co. and the fierce competition in the Chinese market.

Toyota’s global vehicle production rose 9.2 percent to a record 9,971,739 units in fiscal 2023, thanks to the easing of semiconductor shortages caused by the COVID-19 crisis. Although production grew for the third year in a row, it remained below the automaker’s target of 10.1 million units.