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Toyota remains the world's top-selling automaker in 2023

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Asia 30 Jan 2024 11:18 AM IST Reuters

Toyota Motor sold a record 11.2 million vehicles in 2023, cementing its position as the world's best-selling automaker for the fourth consecutive year.

The Japanese carmaker recorded a 7.2% increase in global group sales last year, including those of truck subsidiary Hino Motors and small-car producer Daihatsu, due to record overseas sales of 8.9 million vehicles.

Earlier this month, Volkswagen Group, the German competitor ranked second, revealed a 12% increase in sales to 9.2 million vehicles in 2017, signalling a post-pandemic recovery as supply chain bottlenecks lessened.

In 2023, sales of Toyota's parent-only brands, including Lexus and its nameplate, reached 10.3 million units.

Gasoline-electric hybrids made up about a third of those. Battery electric vehicles accounted for less than 1%.