By Kosaku NariokaToyota Motor set a new record high for group sales globally as it recovered from a pandemic-driven slump and a global chip shortage, cementing its position as the world's biggest carmaker. The Japanese automaker said Tuesday that global sales, including those of subsidiaries Daihatsu Motor and Hino Motors, rose 7.2% to 11.2 million vehicles last year, surpassing the previous high of 10.7 million units in 2019. Volkswagen, the world's second-biggest automaker, said earlier this month that it sold about 9.2 million vehicles worldwide last year, 12% more than in 2022. Toyota said worldwide production climbed 8.6% to a record 11.5 million vehicles last year. In December, sales increased 10% from a year earlier to 1.0 million vehicles and production rose 7.7% to 906,570 units, thanks to solid demand and an easing semiconductor shortage, the company said.

Source: Wall Street Journal January 30, 2024 11:36 UTC