Toyota Motor Corporation TMs Despite the challenging macroeconomic environment, we have successfully defended our position as the world’s largest automaker by volume.
What happened: Toyota reported on Monday that global sales, including those of its subsidiaries, will fall 0.1% year-on-year to 10.48 million units in 2022. Toyota brand sales decreased by 0.5% to 9.57 million units, Daihatsu 766,091 units, and Hino 149,972 units.
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Sales in Japan decreased by 12.7% to 1.29 million units, while overseas sales increased by 1.7% to 8.28 million units.
Despite production challenges, Toyota shipped 10.61 million vehicles from its factories, of which 9.03 million were Toyota-branded vehicles. On a year-on-year basis, production decreased by 5.3%.
“Despite the impact of production restrictions due to the spread of infection, COVID-19 (new coronavirus infectious disease)Global sales were flat year-on-year as a result of strong demand, especially in Asia, driven by increased semiconductor demand and other factors,” the company said in a statement.
Toyota also warned of tough times ahead. “The situation remains difficult to predict due to semiconductor shortages and COVID-19,” he said.
Toyota vs. Peer: German manufacturer next to Toyota Volkswagen AG VWAGYMorewill ship 8.26 million units in 2022. The German company’s sales have fallen 7% since last year as it struggled with supply constraints and temporary production shutdowns.
Volkswagen said a 12% sales increase in the second half of 2022 could not offset a 22% decline in the first half.
Electric vehicle manufacturer Tesla Inc. TSLA will ship 1.31 million units in 2022, a year-on-year increase of 40.34%. However, sales growth fell short of his 50% long-term target for the company.Tesla’s Giga Shanghai The factory, which produces about half of the company’s total output, was shut down for about a month in April due to COVID-19. China.
The pace of returning to normal has been slow amid COVID-19 restrictions.
Toyota’s sales exceeded Tesla’s by about eight times.
of BMW AG BMWYY Global sales will fall 4.8% to 2.4 million units in 2022, with Toyota rival Honda Motor Co. HMC Sales decreased by 6.4% to 3.87 million units.
Official figures from GM, Ford were not available at the time of writing
Among U.S. automakers, general motor corporation GM reported earlier this month that it had sold 2.274 million vehicles in the US, up 3%. In December, the Detroit-based automaker’s sales surpassed Toyota’s. GM separately said it has sold 2.3 million vehicles in China with its subsidiaries.
Despite Toyota’s quantitative leadership, the company has been criticized for its cautious move towards electrification. With Lexus subsidiary Koji Sato taking over from Toyota founder Akio Toyoda, grandson of Toyota founder Akio Toyoda, this year, analysts expect the transition to EVs to accelerate.
Price action: New York Stock Exchange-listed Toyota shares closed Friday’s session at $147.16, up 1.16%, according to Benzinga Pro data.