Toyota still the no.1 automaker, despite ‘irregularities’
Despite all the controversies Toyota Motor Corporation and its subsidiaries (Hino and Daihatsu) faced at the end of last year and early 2024, Toyota remains the top-selling auto brand in the world for the fourth consecutive year.
Toyota sold 11.2 million vehicles last year, a 7.2% increase compared to 2022, which included sales by Daihatsu and Hino Motors. This achievement means the Toyota group of companies has sold 10 million vehicles in nine of the last ten years. The only year they missed the mark was in 2020 amidst the pandemic.
Volkswagen remains number two in global sales, finishing with 9.2 million vehicles delivered at the end of 2023.
In the Philippines, Toyota (along with Lexus) also continues to lead the market after the automaker sold a total of 200,031 vehicles combined. Toyota was able to deliver 198,188 vehicles while Lexus was able to sell 1,843 units last year. And out of the top 10 vehicles sold in the Philippines in 2023, eight came from Toyota.
Unfortunately, in the past few months, things have not been so peachy for Toyota and some of its subsidiaries. Successively, Hino Trucks, Daihatsu, and Toyota Industries have admitted to irregularities in the certification processes of their vehicles and engines. However, Toyota Motor Philippines did say that local units are not affected by the irregularities.
"I would like to express my deepest apologies to our customers and stakeholders for the inconvenience and concern caused by the successive irregularities at Hino Motors, Daihatsu, and Toyota Industries," said Toyota Chairman Akio Toyoda.
The shipment suspension will affect the overall sales of Toyota and its subsidiaries. By how much? That we will have to see.