Toyota Motor’s 2023 Sales Results of Automobiles in Japan

Toyota Motor’s domestic vehicle sales for the full year 2023 increased by 29.8% from the previous year to 1,672,750 units, exceeding the annual sales figure of 1.6 million units for the first time in four years. Toyota’s domestic sales have generally remained at around 1.6 million units since 2000, excluding periods affected by the Lehman Shock, the Great East Japan Earthquake, and the coronavirus pandemic. In the early 2000s, there were years when sales exceeded 1.7 million units. However, in recent years, the only years in which sales have reached the level of 1.7 million units were in which there was a reactionary increase.

In that sense, 2023 was such a year. OEMs including Toyota have reduced production during the economic turmoil caused by the coronavirus pandemic. The shortage of automotive semiconductors began in the second half of 2020, as semiconductor manufacturers redirected production to other applications due to falling demand for semiconductors from the automotive industry. In 2022, Toyota focused on launching the new Noah / Voxy, bZ4X, new Sienta, new Crown, new Lexus LX, new Lexus RX, and other models, but supply was restricted due to a shortage of semiconductors. Starting in 2023, Toyota prioritized domestic vehicle production over overseas production, and eased supply restrictions by standardizing semiconductors and switching from specialized products to general-purpose products. As a result, new models launched in 2022 contributed to overall sales growth, with the Noah increasing by 37,000 units, the Voxy by 34,000 units, and the Crown Crossover by 32,000 units. Additionally, sales of the new Prius, which was fully remodeled in 2023, had the largest rise, going up by 60,000 units.

The main point for 2024 is whether Toyota can maintain the 1.6-million-unit level, but the key will be the sales of the Crown series, including the Crown Sports and the Sedan.