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Toyota remains world’s top-selling auto maker for third year in 2022

Toyota Motor Corp (7203) said on Monday that it had sold 10.5 million vehicles in 2022, while it retained the top spot for global sales for a third consecutive year.

Toyota’s global sales dipped 0.1%, as a 9.6% slump in home market sales to 1.9 million vehicles was offset by record overseas sales of 8.6 million vehicles.

Despite persisting chip supply issues, the Japanese company said robust demand in Asia and an increase in the production capacity and optimization in Asia and North America helped it ramp up global production by 5% last year.

Volkswagen Group retained the second spot, as it reported earlier in January its lowest sales in more than 10 years – 8.3 million vehicles – due to China’s COVID-19-related lockdowns and the military conflict in Ukraine, which disrupted supply chains.

The shares of Toyota Motor Corp closed 0.08% (JPY 1.5) higher at JPY 1,902.0 in Tokyo on Monday, with the auto maker’s total market cap now standing at JPY 26.034 trillion.

The shares of Toyota Motor Corp went down 13.91% in 2022, compared with a 9.37% loss for the benchmark index, Nikkei 225 (N225).

The company’s stock has risen 4.94% so far this year.

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