The popularity of electric vehicles is increasing almost every day. We often update you on the latest achievements, new models, and technologies from companies like Tesla and BYD. Despite the promising future of modern EV makers, the automotive industry is still primarily led by established players. As proof of this, Toyota has held its position as the world’s top selling automaker for the fourth consecutive year. Here are the details…

Toyota Leads in 2023 with 11.23 Million Car Sales, Yet Only 1% Electric World’s Top-Selling Automaker

Toyota’s 2023 reports reveal the company’s continued dominance in the global automotive market. Despite already being the leader in 2022, the Japanese automotive giant increased its sales by 7.2% compared to the previous year, reaching a total of 11.23 million vehicle sales worldwide. Notably, Toyota’s bestsellers include the Corolla, RAV4, Camry, and Yaris models.

The intriguing part is that, unlike other competitors emphasizing electric vehicle production and sales, Toyota significantly trails. Out of the 11.23 million cars sold, only 3.42 million are hybrids, and the majority are traditional engine models. Electric vehicle sales constitute just 1% of the total, amounting to 104,000 units.

However, Toyota is expected to increase its focus on electric vehicles in the coming years and succeed in this area. Nevertheless, despite the shortage of EVs, the company’s success is tremendous. Taking a broader perspective, of the approximately 90 million cars sold globally in 2023, 11.23 million belonged to Toyota. This means that 1 out of every 8 cars sold was a Toyota.

Turning to the rankings, the German automotive powerhouse Volkswagen takes the second spot. Despite a commendable 12% increase in sales, the company managed to sell 9.2 million cars. It could have possibly secured the first position if it hadn’t lost market share to BYD in China.

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