MENU
SEARCHJapanese automaker holds top sales title for third straight year, besting VW.
Japanese manufacturer said strong consumer demand in Asia boosted overall sales.
IMAGE: Toyota
Toyota held the title of the world’s biggest automaker for the third straight year as its 2022 global sales posted flat at about 10 ½ million.
The results came amid continued industry challenges of constrained supply chains and narrowed inventories. Toyota itself last year reduced its production forecast for the current fiscal year, which ends March 31, from 9.7 million vehicles to 9.2 million.
The Japanese manufacturer said strong consumer demand in Asia boosted overall sales.
No. 2 automaker, Volkswagen Group, reported its weakest sales in 11 years, down 7% to 8.3 million due to supply-chain woes brought on by the war in Ukraine and Covid lockdowns in China.
This year, carmakers face the more recent challenges of inflation and rising interest rates that threaten to dampen demand, just as inventories had started to loosen.
Still, Toyota aims to produce up to 10.6 million vehicles in its coming fiscal year in an effort to shorten delivery times, which for some buyers have lasted months or even years for particular models.
LEARN MORE: Toyota Lowers December Output
Originally posted on Auto Dealer Today
Feldman Automotive Group added two new brands, Honda and Toyota, to its portfolio with its latest acquisition of four Fireside dealerships in Ohio.
Read More →
The franchisees’ state-level actions follow a California auto dealers trade group lawsuit against the VW affiliate last year, both efforts to stop the EV maker’s plan to sell direct to consumers.
Read More →
First-quarter auto sales increased as more consumers took advantage of government incentives. Hybrid deliveries are leading the way on the electrifieds boom.
Read More →
At nearly 14%, California had the lowest zero-emission vehicle market share in the first quarter since the fourth quarter of 2021, according to the California New Car Dealers Association.
Read More →
EREVs, also known as ‘series hybrids,’ may catch on in the U.S., where they currently have barely a toehold, as automakers tilt away from some purely electric models and consumers crave more range.
Read More →
Hybrids in particular lead not only EV market share but all power trains on the continent so far this year as gas and diesel continue their decline.
Read More →
Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
Read More →
Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
Read More →
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
Read More →
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →