Toyota Retains World’s Top-Selling Automaker Crown as Chairman Apologizes over Scandals

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Toyota has solidified its position as the world’s leading automaker for the fourth consecutive year, with record-breaking sales of 11.2 million vehicles in 2023. Despite this achievement, the company’s chairman, Akio Toyoda, issued a public apology for the recent scandals plaguing three of its group companies.

The Japanese automaker’s global sales surged by 7.2% last year, encompassing subsidiaries like Daihatsu and Hino Motors, along with affiliate Toyota Industries. However, these companies have been embroiled in governance issues related to certification test procedures for cars and engines, raising concerns about quality and safety standards.

Toyoda expressed remorse for the inconvenience and worry caused by these irregularities, emphasizing the importance of honesty and integrity in the company’s culture. The announcement of Toyota’s vision for its group of 17 companies, originally scheduled for February 14th, was expedited in light of these recent challenges.

Despite the setbacks, Toyota’s parent-only vehicle sales reached a record high of 10.3 million units in 2023, driven in part by strong demand for gasoline-electric hybrids. However, the company faces potential sales disruptions following Daihatsu’s suspension of car shipments due to safety concerns and Toyota’s own suspension of certain models following diesel engine test irregularities.

These issues underscore the importance of maintaining rigorous quality control measures across all facets of the automotive manufacturing process. While Toyota’s sales momentum remains robust, addressing these challenges promptly and transparently will be crucial for sustaining consumer trust and confidence in the brand.

Source: Reuters


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