02 February 2024

Toyota/Lexus Sales : 2021-23

Total worldwide sales came to 10,307,400 units, up 7.7% on 2022 and making it the world's largest car manufacturer. The Toyota world is divided into five regions with the main countries within that region having their respective sales listed. Let's look at the regions.

Asia: Nearly 5 million sales and making up 48.4% of the global total. China is the second largest market for the company with 1.9 million sales and 38.2% of the region's sales. Compared to many foreign brands, it's holding up well there. Japan is next with close to 1.7 million units sold there and 33.5% of the region in terms of volume. 

North America: The next region for size is North America with 2.6 million cars finding new homes. It does have the largest market in the USA with over 2.6 million cars sold. Unsurprisingly, it has 86% of regional registrations. 

Europe: Toyota doesn't have regional weak spots as far as penetration goes but this would be the closest to it. Just over 1.1 million passenger cars sold here in what is a large area for worldwide sales. Looking at sales by country reveals why.

The largest market is Germany yet it is only the fifth biggest in terms of sales. The UK leads the way with France, Italy and Spain all ahead of it. Russia has gone, left for Chinese brands to swoop in. 

Oceania, Middle East & Africa: This disparate collection of countries got to nearly 1.1 million sales. The GCC or the alliance of six Middle East states took nearly half a million cars. Australia and South Africa came next. I slipped in New Zealand although Toyota doesn't include it in their data. 

Latin America: Nearly half a million sales in total which isn't huge but a solid effort. Toyota was a bit late establishing itself there but is making steady progress. 

Summary: An impressive list indeed. There have been some issues that have come up at the end of 2023 that won't please Toyota's hierarchy. They will be thorough in addressing them. 

Data source: Toyota Group.

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