Toyota Motor Corp. has maintained its position as the world’s No. 1 carmaker for a second straight year.
The automaker disclosed today that its vehicle sales rose by 10.1% last year, a development which placed it further ahead of its closest rival, Germany’s Volkswagen AG.
Toyota said its sales amounted 10.5 million cars in 2021. The figure includes sales from its affiliate companies – Daihatsu Motor Co. and Hino Motors Ltd.
8.9 million cars were sold by Volkswagen in the same period, 5% fewer than in 2020, and its lowest sales figure in 10 years.
However, during the coronavirus pandemic, carmakers were forced to cut output because of shortage of semiconductors which invariably disrupted the supply chain and boosted competition for the key component among makers of consumer electronic devices.
The Japanese company has however managed the pandemic better than most other carmakers because its home market and parts of Asia have been less affected than Europe.
Toyota, which is billed to release its third-quarter earnings on Feb. 9, has said it is likely to fall short of a production target of 9 million vehicles in the business year that ends on March 31 because of disruptions linked to COVID-19.
