In 2022, Toyota was still the world’s top car seller, while second-placed Volkswagen Group had its weakest year in 11 years. Volkswagen was the leader for several years last decade, but Toyota is back on top in 2020.
The Toyota group, which also includes brands such as Lexus and Daihatsu, sold 10.5 million units last year, including 1.9 million in Japan. Outside Japan, the numbers were a record, while in the Japanese market, Toyota fell 9.6%.
Volkswagen had a total of just 8.3 million, its lowest annual figure in 11 years. The German group’s sales fell 7% due to the processor crisis, the blockade in China and the war in Ukraine, which led to long delays in the supply chain.
Toyota has every chance to remain the leader in global sales, but it is very bad in full-fledged electric cars. 25,000 were sold in 2022, compared with 572,000 at Volkswagen Group, 911,000 at BYD and 1.3 million at Tesla.
In the EU, the Volkswagen Group was well ahead of Toyota with sales of 2.31 million compared to 662,000, with a market share of 25.1% compared to 7.2%. However, compared to 2021, Toyota’s deliveries are up 7%, while VW’s are down 5%.
Sources: Reuters, BFMTV
Photo source: Dreamstime.com
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.