By Kosaku Narioka
Toyota Motor's group worldwide sales set a new record high in 2023, recovering from a slump caused by the Covid-19 pandemic and a chip shortage in previous years.
The Japanese carmaker said Tuesday that global sales, including those of subsidiaries Daihatsu Motor and Hino Motors, rose 7.2% to 11.2 million vehicles last year, exceeding the previous high of 10.7 million units in 2019.
Toyota said that worldwide production climbed 8.6% to a record 11.5 million vehicles last year.
In December, sales increased 10% from a year earlier to 1.0 million vehicles and production rose 7.7% to 906,570 units, thanks to solid demand and an easing semiconductor shortage, the company said.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
01-29-24 2216ET