The U.S. Stock Research Agency learned that Zhitong Financial News, Toyota Motor (TM. US) said Friday that sales in 2021 rose 10.1 percent to 10.5 million units, including sales from subsidiaries Daihatsu Motors and Hino Motors. Toyota became the global auto sales champion for the second consecutive year and further ahead of its closest competitor, Volkswagen of Germany.
By comparison, Volkswagen sold 8.9 million units over the same period, down 5 percent from 2020 and the lowest in 10 years.
As chip shortages during the pandemic disrupted supply chains, several automakers have been forced to cut production targets. Still, Toyota has weathered the pandemic better than most other automakers because its home market, Japan and parts of Asia, have been less affected than Europe.
Toyota Motor, which will report third-quarter earnings on Feb. 9, said it may not be able to meet its production target of 9 million vehicles in the fiscal year ended March 31 due to supply disruptions related to the outbreak.
However, according to Zhitong Finance, Toyota motor plans to produce 11 million vehicles worldwide in fiscal year 2022, which begins in April this year. If this is achieved, it will break the record set by the company in 2016.
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