Toyota Chairman Akio Toyoda bows in apology throughout a press convention Tuesday over the group firms’ high quality scandals. (Getty Photos)
Each quarter, the stock market hangs on how a lot gross sales progress Tesla and different startups have skilled. There’s progress, however then there’s sheer output, and relating to deliveries dominance, one firm cannot be touched. Toyota on Tuesday introduced that it remained the world’s top-selling automaker for the fourth yr working, with report gross sales of 11.2 million automobiles in 2023.
Toyota’s world group gross sales jumped 7.2% final yr; the numbers embrace gross sales at Daihatsu and truck unit Hino Motors. Toyota’s parent-only automobiles, which embrace the Toyota and Lexus manufacturers, hit a report of 10.3 million automobiles in 2023.
Toyota’s annual output handily beat runner-up Volkswagen Group, which this month reported a 12% rise in deliveries final yr to 9.2 million automobiles. That progress was pushed largely by demand for Audi, which bought 1.9 million automobiles.
The auto trade in 2023 loved a post-pandemic restoration as provide chain bottlenecks eased, although transport issues by means of the Purple Sea up to now this yr have stalled that progress by some automakers, inflicting some automobile crops in Europe to droop manufacturing.
Toyota’s world group gross sales have now topped 10 million automobiles for 9 of the previous 10 years, aside from 2020 when the COVID-19 pandemic delivered a blow to the auto sector.
Scandals and an apology
Toyota’s chairman apologized on Tuesday for scandals on the three group firms. Daihatsu, Hino and affiliate Toyota Industries have been beset by governance points involving certification check procedures for automobiles and engines that might probably damage the model’s world popularity for high quality and security.
“I want to categorical my deepest apologies to our clients and stakeholders for the inconvenience and concern brought on by the successive irregularities at Hino Motors, Daihatsu and Toyota Industries,” Toyota Chairman Akio Toyoda informed reporters. He was talking at an occasion to announce a imaginative and prescient for the Toyota group, which was based by his great-grandfather and now consists of 17 firms.
Toyota dangers a slowdown within the group’s gross sales momentum after Daihatsu final month suspended shipments of all its automobiles after a security scandal investigation discovered points involving 64 fashions, together with nearly two dozen bought beneath Toyota’s model.
One of many 5 attitudes laid out for workers to concentrate on was: “Be sincere and make issues in a proper method.”
The corporate stated the occasion, initially deliberate for Feb. 14, the birthday of its late founder Sakichi Toyoda, was introduced ahead in mild of latest irregularities at Toyota’s group firms.
Daihatsu stated on Tuesday its world manufacturing slumped 25% to 121,000 automobiles in December and its worldwide gross sales had been down about 8% that month. Japan’s transport ministry lifted a ban on shipments of 10 Daihatsu-made automobiles earlier within the day.
On Monday, Toyota disclosed it was suspending shipments of some Toyota fashions together with the Hilux truck and Land Cruiser 300 SUV after an impartial panel uncovered wrongdoing in assessments for diesel engines developed by provider Toyota Industries.
In 2022, one other committee tasked with investigating an emissions scandal at Hino Motors discovered the truck unit had falsified engine emissions knowledge going again to 2003.