Toyota Motor Corp broke its production record in 2022
The problems with global automobile production in recent years are still being felt in the industry. Shortage of electronic chips, delay in delivery or lack of important components for the manufacture of vehicles, the challenges have been and still are many for manufacturers. Good news though, some seem to be getting the upper hand; this is the case of Toyota. The Japanese automaker produced 9.1 million vehicles globally, confirming a new production record for the company.
A revised objective
Even though Toyota was able to break its production record, the company still had to revise its manufacturing target in October 2022. The automaker effectively said last fall that it would not be able to produce the 9 .7 million vehicles expected at the beginning of 2022, but rather to reach 9.1 million by the end of the financial year in March 2023. According to Toyota, the shortage of electronic chips was the main cause of this readjustment.
With the automaker’s fiscal year behind us, it has confirmed that it has reached the new target set in October 2022. Toyota produced 9.13 million vehicles in 12 months, 560,000 vehicles more than last year.
A better year of sales too
Toyota is the manufacturer that sells the most vehicles worldwide. This statement holds true for 2022 as the company was able to beat its own sales numbers. Indeed, Toyota sold 9.61 million vehicles, 100,000 more than the previous year. The company’s worldwide sales including all its related brands, such as Lexus Daihatsu and Hino, reached 9.61 million vehicles sold compared to 9.51 million the previous year, setting a new annual record for the company. In comparison, the world number 2, Volkswagen, sold 8.3 million vehicles in the last year.
Interestingly, the company revealed that it sold 17,473 electric vehicles globally in the first 3 months of 2023, including Lexus brand figures. This data seems to promise that the company will have a better year than in 2022, a year in which the manufacturer sold only 24,466 electric vehicles. Compared to the 1.3 million electric vehicles sold globally by Tesla or the 572,000 copies sold by Volkswagen in 2022, the Japanese manufacturer is lagging behind in the electric vehicle segment.
The world number 1 in automobile production and sales has still not announced its objectives for the current year. This year, as it started at the beginning of April 2023, should be crowned with an increase in the production of electric vehicles, but the manufacturer mentions that, despite everything, the effects of the shortage of electronic chips are taking place.
