Toyota's global sales exceed 11.2 million vehicles in 2023, with slight decline in the Chinese market

Toyota Motor Corporation announced its sales, production and export data for the full year and December of 2023, including related performance of its subsidiaries Daihatsu Motors and Hino Motors.

According to reports, Toyota Motor Corporation (including the Lexus brand) achieved global sales of 11.2 million vehicles in 2023, a year-on-year increase of 7.2%. This sales performance enables Toyota Group to maintain its leading position in the global automobile market and has retained the global sales champion for the fourth consecutive year. Toyota Motor Corporation's solid growth demonstrates its continued improvement in competitiveness and consumer recognition in global markets. This achievement is not only the result of Toyota's own efforts, but also reflects its high-quality products and excellent marketing strategies. Toyota Motor Corporation will continue to strive to innovate and improve product quality to meet global consumer demand for automobiles and maintain its leading position in the global automobile industry.

However, in the Chinese market, Toyota Motor Company's sales in 2023 were 1.9076 million vehicles, a decrease of 1.7% from the previous year. It is understood that this decline may be related to various factors such as intensified market competition, changes in consumer demand, and supply chain challenges. Despite this, Toyota Motor Corporation still maintains a high market share and brand influence in the Chinese market. This shows that despite facing some difficulties, Toyota is still one of the car brands trusted and recognized by Chinese consumers. Toyota will continue to strive to adapt to market changes and provide products and services that meet consumer needs to maintain its competitive advantage.

The Lexus brand achieved remarkable results in 2023. Global sales reached 824,300 vehicles, a year-on-year increase of 132%, setting a record high. This growth mainly benefited from strong demand in the North American and Japanese markets, as well as the gradual recovery of parts supply. Lexus's layout in the field of electric vehicles has also achieved remarkable results, with electric vehicle sales accounting for a record high of 47%. In the Japanese domestic market, Lexus' main models such as NX and RX achieved strong sales performance, with sales increasing by 229% year-on-year, hitting a record high of 94,600 units. These achievements demonstrate the Lexus brand's increasing competitiveness in the market and its confidence in future development.

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