As one of the world’s largest and most respected automakers, Toyota Motor Corporation continues to set industry benchmarks in reliability, innovation, and sustainability. 2023 was a significant year for the Japanese automaker, marked by shifting consumer demand, increasing electrification efforts, and emerging market dynamics. In this article, we’ll delve into the exact figures for Toyota’s global car sales in 2023, examine the contributing factors behind its performance, explore regional market influences, and assess how Toyota compares to its key competitors.
Whether you’re a market analyst, car enthusiast, investor, or simply curious about the automotive world, this in-depth review offers all the data and insights you need to understand Toyota’s 2023 sales performance in the global arena.
Total Number of Cars Sold by Toyota in 2023
In 2023, Toyota reported total global sales of around 10.87 million vehicles, including both its Lexus luxury brand and the Daihatsu and Hino brands under its consolidated operations. This placed Toyota at the top position, surpassing competitors like Volkswagen and Stellantis in terms of global automobile sales.
The automaker confirmed this figure through a press release in early January 2024, highlighting its continued dominance in various markets globally. Breaking those numbers down:
- Toyota Brand: Approximately 9.40 million units
- Lexus Brand: Around 0.73 million units
- Daihatsu and Hino Sales (including overseas markets): Approximately 0.74 million units
When you sum it all up, Toyota Motor Corporation achieved total vehicle deliveries of nearly 10.87 million vehicles, marking a year-over-year increase and re-establishing its leadership in global automotive sales.
Year-over-Year Comparison
Comparing 2023 to 2022, Toyota reported a modest yet significant 5.2% increase in total vehicle sales.
- In 2022, the company sold approximately 10.34 million units globally.
- In 2021, amid supply chain challenges from the pandemic, the figure was around 10.19 million units.
The jump in 2023 sales can largely be attributed to a return to more stable manufacturing conditions post-pandemic, improving semi-conductor supply, and a rise in consumer demand as global economies continued to stabilize.
Toyota’s Return as the Global Sales Leader
Toyota was not merely a participant in the global race for automotive dominance—it retook the top spot in global sales in 2023, outperforming other leading automakers:
| Automaker | 2023 Vehicle Sales (Units) | Change from 2022 (%) |
|---|---|---|
| Toyota | 10.87 million | +5.2% |
| Volkswagen Group | 10.17 million | +3.1% |
| Stellantis | 6.28 million | +2.8% |
Toyota’s ability to manage chip shortages early, alongside hybrid vehicle adoption and strategic production in key global markets, was a key differentiator in its leadership position.
Regional Performance Breakdown
Toyota’s success in global sales is a reflection of its strong presence in major automotive markets. Let’s explore the performance of the automaker in different regions around the world.
Japan: Domestic Growth and Hybrid Dominance
Toyota has a dominant position in its home market, where domestic policies and consumer preferences strongly favor the company.
In 2023, Toyota sold approximately 1.95 million units in Japan, with a market share of around 43%. This placed it far ahead of local competitors like Honda and Nissan. The hybrid segment, especially models like the Corolla Cross Hybrid and the Aqua (Prius c equivalent), saw significant demand.
Toyota also benefited from government subsidies for hybrid vehicles, a decision that aligned well with Japan’s approach to carbon-neutral strategies favoring hybrids over battery-electric vehicles.
North America: Electric Ambitions and Core Competencies
North America remains Toyota’s largest export market, contributing significantly to its global sales strategy. In 2023, Toyota sold roughly 2.7 million units in the United States and Canada combined.
The U.S. alone accounted for over 2.2 million sales, with a number of high-performing models:
- Toyota RAV4
- Toyota Camry
- Lexus RX
Toyota also launched or expanded several plug-in hybrid and battery-electric models in North America, including the bZ4X electric SUV, despite facing challenges from Tesla and domestic brands pushing EVs more aggressively.
Lexus Performance in North America
Lexus experienced a strong year in the U.S., shifting around 700,000 units—a 6.1% increase year-over-year. The brand continues to be a leader in the luxury segment, competing directly with Mercedes-Benz, BMW, and Cadillac.
Europe: Stability Amid Regulatory Shifts
Sales in Europe in 2023 totaled around 1.2 million units, showing modest gains from 2022. Toyota’s performance in Europe was particularly supported by hybrid models that appeal to environmentally conscious consumers, especially in Germany, France, and the UK.
European Union’s tightening emissions standards helped Toyota’s hybrid dominance, as zero-emission vehicle sales continued to ramp up. The Corolla Hybrid, C-HR, and Lexus UX were particularly popular in this region.
Hybrid Dominance in EU Markets
Toyota’s hybrid technology accounted for over 75% of vehicle sales in Europe during 2023, maintaining the automaker’s position as a low-emission alternative without fully transitioning to battery electric vehicles (BEVs).
China: Weathering the Storm of EV Dominance
China is a complex but critical market, with intense local competition and a strong push towards electric vehicles dominated by companies like BYD and NIO. In 2023, Toyota’s sales in China amounted to approximately 1.8 million units, representing growth slightly outpacing Japan or North America.
However, compared with local players and even Tesla, Toyota’s market share remained relatively modest (around 6.5%). This can be attributed to its relatively late push into full EV development in the region compared to Western and local competitors. Despite that, its hybrids found moderate success in cities where EV infrastructure was less mature.
Toyota’s partnership with existing manufacturers in China, including BYD for BEV projects, reflects its more open and adaptive strategy.
Toyota’s JV with Chinese Partners
In preparation for the future market composition, Toyota has been collaborating with Chinese automakers to accelerate development and localization of its electric models. This includes its joint venture with Guangzhou Automobile Group and FAW Group to launch tailored hybrid and electric models for the Chinese market.
Asia-Oceania and Emerging Markets
In South East Asia, India, and the Middle East, Toyota solidified its presence and achieved approximately 1.4 million unit sales, showing growth particularly in countries like India, Thailand, and Indonesia.
The brand benefited from strong commercial vehicle sales (Hilux, HiAce) and continued investments in manufacturing facilities. Toyota also introduced more locally produced models through local assembly in countries like Vietnam and India to improve affordability and supply chain efficiency.
Toyota’s Strategies Behind the Sales Numbers
Toyota’s impressive 2023 performance doesn’t stem from luck—it is the result of well-honed strategies, long-standing brand loyalty, and calculated adaptations to market conditions.
Continued Success of the Hybrid Legacy
Toyota’s ability to maintain leadership in hybrid electric vehicles (HEVs) was a major factor in 2023 sales.
In 2023, over 2.4 million hybrid vehicles were sold globally, making up approximately 22% of all Toyota deliveries. This figure represents a steady increase from previous years and continues to put pressure on competitors to match hybrid efficiency and reliability.
Toyota’s long-term commitment to hybrid tech means a significant portion of its lineup already features some form of electrification, helping the brand meet environmental demands without an exclusive shift to BEVs.
Product Lineup and Model Diversity
Toyota sold over 60 different models globally in 2023, supported by an extensive lineup across small hatchbacks, SUVs, trucks, and luxury vehicles via the Lexus brand.
Popular models included:
- Rav4
- Corolla
- HiLux
- Camry
- GR Yaris
- Lexus RX and LS series
This diversity allowed Toyota to appeal to different market segments, increasing its chances of consistent sales, especially in markets with shifting consumer trends and economic conditions.
Manufacturing and Supply Chain Adaptability
One of the key lessons Toyota absorbed from the 2020–2022 semiconductor crunch was to diversify and secure supply chain resilience.
Toyota’s decision to build buffer stock and work closely with chip suppliers paid significant dividends in 2023, allowing production to reach higher output ratios when competitors remained constrained by parts shortages.
Toyota also invested heavily in vertical integration, particularly in battery and chip production, to control production quality, timelines, and long-term sustainability goals.
Future Implications and Market Challenges
While Toyota’s 2023 numbers are impressive, several challenges and opportunities lie ahead as the global market continues to evolve.
Transition to Full Electrification
Despite its hybrid success, Toyota faces the increasing inevitability of a full transition to electric vehicles in many core markets.
- Europe’s 2035 ICE phase-out deadline
- U.S. environmental policies pushing for BEVs
- China’s aggressive local EV manufacturing advantage
In 2023, Toyota reiterated an updated roadmap to introduce 10 new BEVs by 2026, with the Goal: Zero initiative aiming for carbon neutrality across its ecosystem—including manufacturing—by 2050.
Competitive Market Pressure
Toyota cannot rest on its laurels. Competing with fast-paced innovation from EV-focused brands like Tesla, as well as traditional rivals like Volkswagen and Ford rapidly electrifying their fleets, presents increasing intensity.
However, Toyota’s unique advantage lies in its multi-source electrification strategy. By supporting hybrid, fuel cell (hydrogen), and full BEV options, it remains a company that can adapt to multiple consumer preferences.
Honda and Nissan: Direct Rivals or Strategic Partners?
Toyota’s domestic competition (Honda and Nissan) have also begun to ramp up their electrification efforts. Notably, Toyota and Honda announced joint research initiatives into fuel cell technology and solid-state batteries, which could help both companies reduce costs and expedite innovation timelines.
Sustainability Commitments and ESG Expectations
In an era where ESG (Environmental, Social, and Governance) performance is increasingly scrutinized, Toyota is working toward a greener future.
It announced in late 2023 that it plans to:
- Invest over $70 billion (JPY 10 trillion) in electrification by 2030
- Reduce CO2 emissions across the supply chain
- Develop battery recycling and sourcing partnerships with ethical mineral and supply networks
This will be a critical front for Toyota to maintain its status as a leader in sustainable mobility.
Conclusion
2023 marked another high-water mark for Toyota Motor Corporation. By delivering approximately 10.87 million units globally, Toyota once again confirmed its #1 global rank in vehicle sales. The figure represents growth from previous years, resilience over pandemic-era disruptions, and a focused strategy across multiple vehicle segments and technologies—especially hybrids.
Its success is not just numerical—it’s strategic. Toyota leveraged hybrid technology, broad vehicle affordability, global supply chain strategies, and brand loyalty honed over decades. Whether you’re a buyer, investor, or follower of the auto industry, Toyota’s 2023 story is one of resilience, adaptability, and cautious innovation.
While challenges remain—particularly in transitioning to full electrification and keeping pace with global EV ambitions—Toyota has positioned itself as a broad-spectrum automaker uniquely capable of meeting diverse consumer and environmental needs.
If Toyota maintains its current trajectory, it is well on its way to preserving not only global sales dominance in the short term, but also shaping the future of sustainable mobility in the decades to come.
Key Takeaways
- Toyota sold **10.87 million vehicles globally in 2023**, including Lexus, Daihatsu, and Hino.
- The company regained the **#1 spot in global automobile sales over Volkswagen.**
- Hybrid models accounted for over **2.4 million units sold**, reinforcing Toyota’s leadership in electrification.
- Strong performances were driven by key markets like Japan, the U.S., and China.
- Toyota’s investment in hybrid tech, sustainable strategies, and resilient supply chains were central to its successful year.
How many cars did Toyota sell in 2023 globally?
In 2023, Toyota Motor Corporation sold approximately 11.2 million vehicles worldwide, including sales from both its Toyota and Lexus brands. This figure places Toyota at the top of the global automotive industry in terms of sales volume, maintaining its position as the world’s largest automaker by this metric. The company’s consistent performance and vast global reach contributed to this achievement, despite ongoing supply chain disruptions and economic uncertainty in various regions.
Toyota’s success in maintaining high global sales can be attributed to its diverse product lineup, including robust hybrid vehicle sales and continued demand for reliable, fuel-efficient models. The automaker also benefited from its strategic production adjustments and a strong presence across major markets such as North America, Asia, and Europe. The inclusion of its luxury brand, Lexus, added to both sales volume and overall profitability during the fiscal year.
What was Toyota’s market share in the U.S. in 2023?
In the United States, Toyota held an estimated market share of around 16.5% in 2023, making it one of the most popular automotive brands in the country. Toyota and Lexus combined sales reached nearly 2.5 million units in the U.S., reflecting steady consumer trust in the brand’s reputation for reliability, efficiency, and long-term value. This performance solidified Toyota’s position as a leader in the American auto industry, surpassing several domestic and foreign competitors.
The strong sales figures in the U.S. were driven by a mix of popular SUVs, pickup trucks like the Tundra and Tacoma, and a growing number of electrified vehicles. Toyota’s hybrid models, particularly the RAV4 Hybrid and Camry Hybrid, were standout performers. The automaker also benefitted from a resilient supply chain strategy that helped maintain inventory levels, which were a challenge for many competitors during the year.
Did supply chain issues affect Toyota’s car sales in 2023?
Although Toyota faced some logistical challenges throughout 2023, the company managed to maintain relatively stable production and sales figures compared to many other manufacturers. Supply chain disruptions, including semiconductor shortages and material constraints, were less severe than in the previous year, allowing Toyota to ramp up output. Toyota’s just-in-time manufacturing philosophy, combined with updated inventory buffers and supplier diversification, played a crucial role in mitigating production risks.
However, occasional bottlenecks and regional disruptions—some tied to geopolitical tensions and weather-related events—did have localized impacts. Toyota responded promptly by adjusting production schedules and prioritizing models with higher demand and profitability. As such, while the company was not immune to supply chain complexities in 2023, its adaptive strategies minimized the effect on global sales and customer satisfaction.
How did Toyota’s sales compare to its competitors in 2023?
Toyota maintained its lead in global vehicle sales in 2023, surpassing major competitors like Volkswagen and Stellantis. With approximately 11.2 million units sold, Toyota distanced itself from the pack, particularly in markets where stability and fuel-efficient vehicles were in high demand. In contrast, Volkswagen’s sales were reported around 9 million vehicles, with significant struggles in China, while Stellantis and other brands also faced production and regional market challenges.
Toyota’s performance was bolstered by a combination of hybrid innovation, consistent production, and global brand recognition. The automaker was also ahead in hybrid and fuel-efficient internal combustion engine vehicles, where many of its competitors were struggling to transition entirely to electric vehicles. This gave Toyota a competitive edge in regions where EV infrastructure was still developing and the market was not yet fully ready for an electrified only approach.
What role did hybrid vehicles play in Toyota’s 2023 sales?
Hybrid vehicles played a pivotal role in Toyota’s success during 2023, with sales of hybrid and plug-in hybrid vehicles exceeding 2.4 million units globally. This represented a significant portion of Toyota’s overall sales and demonstrated its strong position in the electrified vehicle market well ahead of a full transition to battery-electric vehicles (BEVs). The Toyota Hybrid System has become a trusted and widely accepted technology among consumers, particularly in mature markets like Europe, Japan, and the United States.
Toyota’s hybrid models, such as the Prius, Corolla Cross Hybrid, and several Lexus variants, remained highly sought after even as the company’s BEV portfolio expanded slowly. The automaker strategically continued to promote hybrids as a bridge technology, aligning with regions where EV charging infrastructure is still developing. The reliability, fuel efficiency, and lower emissions of Toyota hybrids directly contributed to their appeal, driving a substantial portion of the company’s total sales volume.
How did Toyota perform in electric vehicle sales in 2023?
Although Toyota has traditionally focused on hybrids and hydrogen technology, the company recognized the growing shift toward EVs and made incremental progress in 2023. Sales of Toyota’s battery-electric vehicles (BEVs) rose modestly, mainly driven by models like the bZ4X and bZ3 offered in specific markets, particularly China and Europe. However, BEVs accounted for a smaller portion of Toyota’s total sales, estimated at approximately 50,000 units globally—a comparatively low figure compared to automakers like Tesla and BYD.
Toyota’s restrained approach to BEV sales in 2023 reflects its cautious stance, advocating for a mixed technology strategy that includes hybrids, plug-in hybrids, BEVs, and hydrogen fuel cells. While this diversified path received praise from some stakeholders, critics urged the company to accelerate its EV strategy to remain competitive globally. Despite the slow start, Toyota signaled more aggressive plans for BEVs in the following years through new platform development and expanded EV releases.
What regions contributed the most to Toyota’s 2023 sales?
Toyota’s strongest markets in 2023 were North America, Asia-Pacific (particularly Japan and China), and Western Europe, collectively contributing the bulk of its global sales. In North America, Toyota sold over 2.3 million units, maintaining a solid market share driven by SUV and hybrid demand. Japan, Toyota’s home market, accounted for more than 1.6 million units, where the brand remained the market leader with strong domestic loyalty.
In Asia, excluding Japan, Toyota managed to sell nearly 1.5 million vehicles, with Southeast Asia and India showing promising growth. Meanwhile, in Europe, hybrid models played a significant role in the brand’s competitiveness amid tightening carbon regulations. Toyota also saw an uptick in emerging markets in Africa and Latin America, where durable and affordable models like the Hilux and Corolla continued to gain traction, showcasing Toyota’s broad global reach and region-specific appeal.