Toyota repeats itself as the world’s largest manufacturer for the third year in a row

If there is one thing that has characterized Toyota in recent times, it is its ability to withstand the various crises that have hit the auto industry. The numbers speak for themselves and the Japanese giant closed 2022
with 10,483,024 sales, 0.1% less than in 2021.

This drop is a win in itself, as semiconductor shortages and inflation have made buying a new car more difficult. To put it in perspective, in second place came the
Volkswagen Group with 8,262,800 deliveriesa drop of 7% and the worst result in ten years.

The Wolfsburg Consortium blamed China’s strict lockdowns due to the coronavirus and the war in Ukraine as causing it to affect supply chains and results. Despite the drop, the group increased sales of electric cars by 26%.

In third place for the first time was the Hyundai Group, which in some markets includes the namesake brand, Kia and the premium Genesis. His figures are the only ones to register a boom (of 2.7%) and
ended the year with 6,848,198 sales. The goal for 2023 is to increase the numbers by almost 10% to 7.5 million units.

This, if it continues, could threaten the Volkswagen Group as they would handle similar volumes by 2024 and fight for second place. The Renault-Nissan-Mitsubishi Alliance was in fourth place and did not hold back.

Registrations of the Franco-Japanese group increased by 19.5%, to the end of the year with 6.3 million units. Of the ‘top 5’ competitors, the Alliance has been most affected by the war in Ukraine, forcing it to leave its second largest market, Russia.

The consortium has taken the decision to reformulate its structure and Renault will have a 15% stake in Nissan (currently more than 43%), identical to the share the Japanese has on its board of directors.

2022 was also a busy year for the management team, with changes in the two largest groups. The Volkswagen Group got a new CEO from Porsche,
Oliver Blume, considered more akin to the board of directors. One of his first decisions was to abandon some of the consortium’s major plans for electric mobility.

Toyota has announced that its CEO and grandson of the founder,
Aki Toyodawill leave his position to chair the board of directors, a position less demanding than the one he has held to date.

His successor will be from April
Koji Satō, the head of Lexus and the sports division Gazoo Racing. In his speech, Sato, 13 years younger than Toyoda, said they have permission from the company to make risky decisions and design exciting cars.

Source: La Verdad

Mary

I am Mary Fitzgerald, a professional journalist and author of the Today Times Live. My specialty is in writing and reporting on technology-related topics. I have spent the last seven years extensively researching and understanding the field of technology so I can properly inform my readers about developments in this ever-evolving world.