Toyota has broken new sales records all over China and made a record high of 1.94 million units. The sales record has grown about eight percent from 2021. The brand itself has climbed up to the 2nd position for the best-selling car brand across Europe.
In January 2022, Toyota Motor Europe, otherwise known as TME, reported over 10 lakh sales of Toyota and Lexus vehicles. This score outperformed the entire market. Other than that, TME’s overall market share also increased by 0.4 ppts to about six percent as compared to the entire company record and reflected the overall growth of 1.4 ppts since 2018.
Customers are the key point to the success of Toyota as they contributed through high customer demand and helped TME achieve European Union and UK CO2 fleet targets. This encompasses a wide range of battery-electric, fuel cell, plug-in hybrid electric, and electric vehicles. Over 1.94 mill Toyota has revealed this exceptional sales record and specific sales figures.
The surge in demand for low-fuel-consuming hybrid vehicles has boosted sales manufacturers in China. It’s no surprise that the sale of hybrid vehicles has shot up by 16% this year. Toyota has revealed this amazing sales record and specific sales figures for the first time ever.
What’s next for the brand?
Toyota’s business strategies must be appreciated as they helped them to achieve a high rank in the local market of foreign car auto markers. Recognizing the shift of the automobile industry’s focus on sustainable fuel alternatives, the company has already started been trying to capture their customer’s attention when it comes to electric and hybrid vehicles.
This gives the brand a head start in the market compared to the other brands, and the company has already been growing rapidly throughout 2021. In 2022 Toyota announced to continue growing its trajectory as the world recovers from the pandemic and lockdowns.
Toyota witnesses strong growth in China in 2021 owing to accessible supply chain
However, in September 2021, the brand decided to manufacture fewer vehicles and make it to 9 million by March 2022. The owner reported in an interview that the demand and sales have been very high, which is why aiming for the February production plan is a much better and wiser approach without letting the company face a downfall in its production.
Many other companies such as Ford Motorcars and GM were also forced to cut down their manufacturing and production due to the massive chip crunch that impacted the global supply chain.
This has caused Honda Motor sales to drop by 4%. While other foreign and Japanese automakers continued to face the downwind, Toyota played steadily and penetrated the Chinese market with the right amount of production and marketing mix and received back a high acceptance rate from its customers.