|
Getting your Trinity Audio player ready...
|
Toyota Motors has clinched the impressive achievement of being the world’s top automaker for the fourth consecutive year, boasting an unprecedented 11.2 million vehicle sales in 2023. Despite this significant milestone, Akio Toyoda, the company’s Chairman, found himself apologizing due to recent scandals affecting three of Toyota’s group companies, including Daihatsu and Hino Motors.
The disclosed sales figures encompass Toyota’s global group, revealing a notable 7.2% increase in overall sales. Unfortunately, certain subsidiaries, such as Daihatsu and Hino Motors, faced governance issues related to certification test procedures for both cars and engines. Toyoda sincerely apologized for any inconvenience caused to customers and stakeholders as a result of these problems.
Toyota has consistently showcased its dominance in the automotive industry by exceeding 10 million vehicles sold globally for nine of the past ten years. The sole exception was in 2020, a year marked by the widespread impact of the COVID-19 pandemic on the auto sector. Despite Toyota’s impressive global sales, it grapples with challenges arising from recent safety-related scandals.
The German automaker Volkswagen Group reported a 12% surge in deliveries in 2023, reaching a commendable 9.2 million cars. While Toyota continues to demonstrate robust overall sales, it faces issues stemming from recent safety-related incidents. Notably, Daihatsu’s suspension of car shipments last month, following a safety investigation, led to a production slump and a subsequent decline in sales.
Read Also: Challenges Faced automobile companies in Pakistan: License Threat in Pakistan
Specific models faced temporary shipment halts by Toyota due to a diesel engine test scandal involving its supplier, Toyota Industries. These incidents have prompted a reassessment of Toyota’s commitment to values such as honesty and doing things the right way, as highlighted in the company’s recent vision event.
The discrepancies within its group companies have sparked concerns about Toyota’s longstanding reputation for quality and safety. As Toyota navigates these challenges, the automotive industry closely observes how the company addresses and rectifies these issues to maintain its position in the highly competitive market.