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January 30, 2023 04:31 AM

Toyota keeps title as world's top-selling automaker; finishes 3rd in Canada

The 2022 result was the Japanese company's third straight year as the world's top-selling automaker

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

    Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1 per cent as record overseas sales of 8.6 million vehicles helped offset a 9.6 per cent dip in its home market to 1.9 million, Toyota said in a statement.

    The automaker sold 45,176 in Canada, up 9.5 per cent over 2021, but still trailed General Motors and Ford. 

    Second-ranked globally, rival Volkswagen Group earlier this month reported its lowest sales in over a decade, of 8.3 million vehicles, as COVID-19 lockdowns in China and the war in Ukraine upended supply chains.

    While some chip-related supply constraints remained for Toyota as well, the automaker said strong demand in Asia and an increase in the production capacity and optimization in Asia and North America helped it boost global production by 5 per cent in 2022.

    Toyota in 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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