Toyota Is Still The Biggest Car Company In The World (2024)

Updated: Jan 30, 2024 at 3:00am ET

We've been waiting for Toyota to release sales data for 2023 ever since the Volkswagen Group announced it sold 9.24 million cars. The numbers are in, and as expected, the Japanese juggernaut managed to comfortably beat its German rival with a record-breaking 11,233,039 vehicles shipped last year. That's an increase of 7.2 percent year-over-year, which makes Toyota the best-selling automaker for the fourth year in a row.

A closer look at the numbers shows thatToyota and Lexus brands delivered 10,307,395 cars in 2023, or 7.7 percent more than the prior year – and a new record. Daihatsu also posted solid results as shipments grew by 3.2 percent to 790,441 units. The last 12 months haven't been kind to the Hino commercial vehicles division, though, as sales declined by 9.8 percent to 135,203 units.

Global Sales Increase
Toyota Group 11,233,039 Vehicles 7.2 Percent
Toyota + Lexus 10,307,395 Vehicles 7.7 Percent
Lexus 824,258 Vehicles 132 Percent
Daihatsu 790,441 Vehicles 3.2 Percent

Sales outside of Japan reached an all-time high last year when Toyota and its subsidiaries shipped 8,928,230 cars, an increase of 4.1 percent compared to the previous year. The main Toyota and Lexus brands accounted for the bulk of the sales, with 8,634,425 cars, up by 4.3 percent over 2022 to set yet another record. The United States was the biggest single market with 2,617,033 cars, or 7 percent more than the year before.

Lexus achieved record sales in 2023 after shipping 824,258 cars – a whopping 132-percent jump compared to 2022. North America was by far the biggest region with 355,606 units (+124 percent), followed by Asia with 236,587 units (+113 percent) and domestic market Japan with 94,647 units (+229 percent).

Toyota Is Still The Biggest Car Company In The World (2)
Toyota Is Still The Biggest Car Company In The World (3)
North American Sales Increase
Toyota Group 2,248,477 Vehicles 6.6 Percent
Lexus 355,606 Vehicles 124 Percent

How did other large automakers fare in 2023? The Hyundai/Kia/Genesis trio posted total sales of 7.32 million vehicles (+6.7 percent increase) to claim the last spot on the podium. General Motors has yet to publish global sales figures for the previous year, but we'll remind you that it shipped 5.93 million cars in 2022. Stellantis will publish data for the year that just ended on February 15, and in the meantime, it's worth mentioning deliveries stood at5.84 million vehicles in 2022.

Another Japanese automaker published global sales results today for the whole 2023. Nissan moved 3,225,632 cars in the previous 12 months, representing an increase of 4.6 percent.

The Tesla Model Y Was The Most Popular Car In 2023:

Sources: Toyota, Lexus, Nissan

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Toyota Is Still The Biggest Car Company In The World (2024)

FAQs

Is Toyota still the world's largest automaker? ›

Toyota has retained its lead as the world's biggest automaker by sales, beating German rival Volkswagen for the fourth consecutive year.

Is Toyota still number 1? ›

TOKYO, Jan 30 (Reuters) - Toyota Motor (7203. T) , opens new tab retained its crown as the world's top-selling automaker for the fourth consecutive year after posting record annual sales of 11.2 million vehicles in 2023, though its chairman apologised on Tuesday for scandals at three group companies.

Is Toyota one of the biggest companies in the world? ›

As one of the largest automakers globally, Toyota produces a wide range of vehicles, from fuel-efficient hybrids like the Prius to rugged trucks like the Tacoma. With a commitment to quality and innovation, Toyota continues to shape the future of mobility.

Who is the largest car company in the world? ›

Ranking of motor vehicle manufacturers worldwide by global sales 2023. At around 11.2 million units, the Toyota Motor Corporation remained above its largest rival, the Volkswagen Group, as the world's largest manufacturer of motor vehicles. Both manufacturers sell motor vehicles under various brands.

Who is bigger Toyota or GM? ›

Toyota, however, overtook GM as the best-selling automaker in the United States in 2021, marking the first time a non-American automaker has led US auto sales for a full year.

Is Toyota or Tesla bigger? ›

Toyota is the world's largest auto manufacturer, while Tesla is ranked 15th.

Is Toyota bigger than Ford? ›

Toyota Motor has a greater market capitalization than that of General Motors , Ford and Honda combined.

Who is Toyota's biggest customer? ›

North America was the Toyota Motor Corporation's largest market in terms of unit sales, partly due to the popularity of its Toyota and Lexus brands in the United States. In 2023, both brands topped the consumer satisfaction ranking in the U.S., while Toyota was also the second best-selling brand in the country.

Where is Toyota ranked in the world? ›

PLANO, Texas (May 14, 2024) — Fair360, formerly DiversityInc, has named Toyota North America* one of its 2024 Top 50 Companies, ranking fourth among the 160 companies participating in the survey.

What is the number 1 car brand in the world? ›

1 Automaker for Fourth Year. Toyota Motor Corp. sold more passenger vehicles than ever in 2023, cruising ahead of Volkswagen AG as the world's top carmaker for a fourth consecutive year.

Is Toyota the richest car company? ›

Most valuable automotive brands worldwide by brand value 2024. The Tesla marque was ranked as the world's most valuable car brand in 2024, with a brand value of roughly 71.9 billion U.S. dollars. Toyota, 2020's leader, is now the runner-up, followed by BMW.

Did GM outsell Toyota? ›

After Toyota's 2021 total put it ahead of General Motors, breaking GM's longstanding winning streak that stood since 1931, the American automaker once again overtook its Japanese rival in 2022. GM sold 2,274,088 units in 2022, recapturing the number one spot with a winning margin of 165,630 units.

Is Toyota bigger than Volkswagen? ›

Toyota remained the world's largest automaker for 2023 after a few years at the top, totalling a 10,307,395 result for 2023 up against the 9.24 million vehicles delivered by Volkswagen Group.

What is the number one selling car brand in the world? ›

For the fourth year in a row, Toyota is the world's best-selling automaker. We've been waiting for Toyota to release sales data for 2023 ever since the Volkswagen Group announced it sold 9.24 million cars.

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