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Toyota outsells VW for global sales crown, apologizes with a vow to 'be honest'

Toyota Chairman Akio Toyoda bows in apology during a press conference Tuesday over the group companies' quality scandals. (Getty Images)   Every quarter, the stock market hangs on how much sales growth Tesla and other startups have experienced. There's growth, but then there's sheer output, and when it comes to deliveries dominance, one company can't be touched. Toyota on Tuesday announced that it remained the world's top-selling automaker for the fourth year running, with record sales of 11.2 million vehicles in 2023. Toyota's global group sales jumped 7.2% last year; the numbers include sales at Daihatsu and truck unit Hino Motors. Toyota's parent-only vehicles, which include the Toyota and Lexus brands, hit a record of 10.3 million vehicles in 2023. Gasoline-electric hybrids made up about a third of those. Battery electric vehicles accounted for less than 1%. Toyota's annual output handily beat runner-up Volkswagen Group, which this month reported a 12% rise in deliveries last year to 9.2 million cars. That growth was driven largely by demand for Audi, which sold 1.9 million vehicles. The auto industry in 2023 enjoyed a post-pandemic recovery as supply chain bottlenecks eased, though shipping problems through the Red Sea so far this year have stalled that progress by some automakers, causing some car plants in Europe to suspend production. Toyota's global group sales have now topped 10 million vehicles for nine of the past 10 years, except for 2020 when the COVID-19 pandemic delivered a blow to the auto sector. Scandals and an apology Toyota's chairman apologized on Tuesday for scandals at the three group companies. Daihatsu, Hino and affiliate Toyota Industries have been beset by governance issues involving certification test procedures for cars and engines that could potentially hurt the brand's global reputation for quality and safety. "I would like to express my deepest apologies to our customers and stakeholders for the inconvenience and concern caused by the successive irregularities at Hino Motors, Daihatsu and Toyota Industries," Toyota Chairman Akio Toyoda told reporters. He was speaking at an event to announce a vision for the Toyota group, which was founded by his great-grandfather and now includes 17 companies.

Has the auto industry hit peak hybrid?

Hybrids are known for their great fuel economy and low emissions, but it looks like given current market conditions, only about three percent of new car consumers are willing to pay the premium for them. A new study from IHS/Polk finds that the hybrid market share among overall US auto sales are falling, despite more models with the technology on sale than ever before.
The study examined new car registrations in March from 2009 through 2014. In that time, the auto industry grew from 24 to 47 hybrid models available to consumers, but market share for the powertrain remained almost stagnant in that time. As of 2009, hybrids held 2.4 percent of the market; it fell slightly to 2.3 percent in 2010 and grew to 3.3 percent in 2013. However, 2014 showed a drop back to 3 percent. Overall hybrid sales have been growing since 2010, but they just aren't keeping up with the total auto market.
According to IHS/Polk, this isn't what you would expect to see. Usually, each new model in the market brings along with it a boost in sales. The growth in hybrid models 2009 to 2014 should have shown a larger increase in share for the segment.

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Discussion Topics for Autoblog Podcast Episode #329
Subcompact sales slump, yet again