HomeBusinessToyota remains world's biggest car seller, widens lead on VW

Toyota remains world’s biggest car seller, widens lead on VW

TOKYO : Japan’s Toyota Motor Co stated on Friday its automobile gross sales rose by 10.1per cent final 12 months, making it the world’s biggest carmaker for a second straight 12 months and placing it additional forward of its nearest rival, Germany’s Volkswagen AG.

The carmaker stated gross sales had been 10.5 million automobiles in 2021, together with these by associates Daihatsu Motors and Hino Motors.

That compares with 8.9 million https://www.reuters.com/business/autos-transportation/volkswagen-sees-81-sales-drop-2021-just-under-49-million-vehicles-2022-01-12 delivered by Volkswagen in the identical interval, 5per cent fewer than in 2020 and its lowest gross sales figures in 10 years.

Carmakers have been pressured to chop output as a result of a scarcity of semiconductors through the coronavirus pandemic disrupted provide chains, boosting competitors for the important thing part amongst makers of shopper digital gadgets.

However, the Japanese firm has weathered the pandemic higher than most different carmakers as a result of its house market, Japan, and components of Asia, have been much less affected than Europe.

Toyota, which releases third-quarter earnings on Feb 9, has stated it’s more likely to fall in need of a manufacturing goal of 9 million automobiles within the enterprise 12 months that ends on March 31 due to disruptions linked to COVID-19.

(Reporting by Tim Kelly and Maki Shiraki; Editing by Clarence Fernandez)

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