Toyota Motor Corporation: worldwide vehicle production 2007-2024
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Toyota Motor Corporation’s motor vehicle production increased by 6.54 percent to reach rougly 9.3 million units in the fiscal year ended March 31, 2024. This figure includes commercial vehicles and vehicles sold under the Daihatsu and Hino brands. Toyota Motor's net revenue in the 2023 fiscal year amounted to approximately 45.1 trillion Japanese yen.
Americanization
Outside Japan, North America is positioned as the largest source market for Toyota vehicles. Between April 2022 and March 2023, the assembly of Toyota vehicles in North America came to around 1.98 million units. While North American plants churned out just under one percent more vehicles than the year before, Toyota was the second-leading car brand in the U.S. in 2023.
Expansion plans in Asia
Toyota is anticipated to expand production of electric vehicles in its auto plants in China’s production hubs of Guangzhou and Tianjin. Japan’s largest carmaker is currently in a joint venture with FAW and BYD but is expected to benefit from China’s removal of foreign ownership caps for new energy vehicle manufacturers.
Americanization
Outside Japan, North America is positioned as the largest source market for Toyota vehicles. Between April 2022 and March 2023, the assembly of Toyota vehicles in North America came to around 1.98 million units. While North American plants churned out just under one percent more vehicles than the year before, Toyota was the second-leading car brand in the U.S. in 2023.
Expansion plans in Asia
Toyota is anticipated to expand production of electric vehicles in its auto plants in China’s production hubs of Guangzhou and Tianjin. Japan’s largest carmaker is currently in a joint venture with FAW and BYD but is expected to benefit from China’s removal of foreign ownership caps for new energy vehicle manufacturers.
