Toyota Statistics By Revenue, Sales, Brand Value and Facts

Introduction

Toyota Statistics: Toyota, the world’s largest automobile manufacturer, is a pioneer in production systems. Its annual production of approximately 10 million vehicles sets the benchmark for others to follow and underscores its leadership in the automotive industry. Since its founding in 1930, Toyota has leveraged the Japanese economic miracle in the 1960s to embark on a successful international expansion. Today, it is the largest company in Japan and the ninth largest in the world in terms of revenue.

The profound appeal Toyota generates internationally is a testament to its success in global markets. With the assistance of Toyota statistics, we will better understand Toyota’s growth.

Editor’s Choice

• Toyota is the world’s largest automobile manufacturer, producing 10 million vehicles annually.
• Toyota Corolla is the best-selling car model of all time, with over 50 million unit sales
• Toyota is the second highest-valued automotive brand worldwide, just behind Tesla
• Toyota is researching heavily on innovation, and it has allocated around 6.6% of its total revenue in 2023 to research and development, and it is planning to increase it to 20 billion USD by 2024
• Toyota has been slower in the adoption of electric vehicles; the EV accounted for 12% of total Toyota sales, and it plans to increase it to 13.4% by 2024.

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Brand Value of Toyota

(Reference: statista.com)

• Toyota Statistics show that, Toyota is the second highest-valued brand worldwide, with a $30.24 billion market valuation. This valuation results from Toyota’s relentless focus on quality, innovation, and customer satisfaction, which have solidified its position as a trusted and respected brand in the automotive industry.
• The Japanese automotive company has an active segment in different categories, namely SUVs, crossovers, trucks, and motorcycles. While the adoption of electric vehicles has been slower, as per the experts from Toyota Statistics, one can expect the valuation to improve significantly, gradually bridging the gap between Tesla and Toyota.

Toyota Sales Worldwide By Region

(Reference: statista.com)

• As shown in the graph, Japan is the region with the highest growth, followed by North Korea, other Asian countries, and Europe.
• As of 2024, Japan has a revenue of 21,020.7 Japanese Yen.

(Reference: statista.com)

• As per Toyota Statistics, The total number of retail vehicles has steadily grown over the years. Although it reduced to 9.53 million in 2020 due to economic slowdowns due to COVID-19, it has gained a strong foothold and is expected to throttle rapidly.
• The revenue is expected to reach $20 billion by 2024
• Revenue will have an annual growth rate of 0.37%, resulting in a projected market volume of around $23 billion by 2028.
• Toyota Unit sales are expected to reach around 8 million in 2028
• Most revenue is expected to be generated from the United States, with $57,050 million in 2024

(Source: statista.com)

As shown in the graph based on Toyota statistics, the following can be inferred

• Toyota witnessed a steep drop in sales in 2020 owing to COVID
• It witnessed a strong recovery in 2021, with 7.3 million units.
• Till 2024, the sales are expected to reach 7.8 units
• It is predicted that by the maximum, Toyota’s sales will reach 7.9 by the end of 2028

Vehicle Sales in Europe

(Source: statista.com)

• It can be inferred that overall sales in Europe reduced significantly in 2021 due to COVID-19 and have been steadily increasing, and it is expected to reach pre-COVID levels around 2028.
• According to Toyota Statistics, sales are expected to increase steadily, with 205 billion in the small car and SUV segment.
• Revenue of Toyota is expected to reach $19 billion in 2024
• Revenue has shown an annual decline in CAGR from 2024 2028 to -1.22% leading to a project market of $18 billion by 2028

(Source: statista.com)

• The reliance on fuel-based cars has been reduced, and this trend is expected to continue with the gradual adoption of electric vehicles.

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Vehicle Sales in Asia

(Source: statista.com)

• Asia has always remained a significant contributor to overall sales.
• Sales have increased to unprecedented levels since 2020, with medium cars being the dominant segment.
• Revenue of Toyota is expected to reach $116 billion in 2024
• Annual CAGR between 2024 – 2028 is expected to be 0.77%
• As of 2028, Toyota Unit sales will be around 4600k.

(Source: statista.com)

• Compared to Europe, the adoption of electric vehicles has been slower even till 2028.
• Petrol is expected to have almost a 50% share in the entire market segment.

Vehicle Sales in America

(Source: statista.com)

• The revenue of Toyota is predicted to be $78 billion by 2024
• CAGR (2024 – 2028) will show a decrease of -0.36%, which would result in a projected market volume of $77 billion by 2028
• Toyota unit sales are expected to reach around 2400k vehicles in 2028
• As per Toyota statistics, US sales of Toyota vehicles witnessed a sharp drop of 1616k vehicles in 2020 and have recovered to 1856.2k units in 2021.
• The sales are expected to reach 1719.5k units by 2028.

Best Selling Cars

Toyota Statistics show that Toyota Corolla is the best-selling car model worldwide, with over 50 million units sold as of 2021.

(Source: statista.com)

• If one glances at the sales of passenger cars worldwide in 2023.
• In that case, it is visible that the Telsa Model Y is the highest selling at 1.15 million, with the Toyota Corolla being the closest second at 1.13 million.

List of Toyota Vehicles

Former Toyota Production Vehicles

(Source: wikipedia.org)

Current Concept Vehicles

Cars

• Toyota 4Runner
• Toyota Avalon
• Toyota Camry
• Toyota Corolla
• Toyota Prius
• Toyota Supra
• Toyota Yaris

Crossovers and SUVs

• Toyota C-HR
• Toyota Fortuner
• Toyota Highlander
• Toyota Land Cruiser
• Toyota RAV4
• Toyota Sequoia
• Toyota Sienna
• Toyota Venza

Pickup Trucks

• Toyota Hilux
• Toyota Tacoma
• Toyota Tundra

Past Vehicles

Cars

• Toyota Celica
• Toyota Corona
• Toyota Cressida
• Toyota MR2
• Toyota Solara
• Toyota Starlet
• Toyota Tercel

Crossovers and SUVs

• Toyota FJ Cruiser
• Toyota Urban Cruiser

Pickup Trucks

• Toyota Stout

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Toyota Analysis

• As a market researcher, it is essential to analyze Toyota’s recent performance as it is one of the world’s leading automotive manufacturers. Toyota statistics for 2023 and 2024 provide valuable insights into the company’s market position and growth trajectory.
• In 2023, Toyota reported a remarkable revenue of $287 billion US dollars, marking a 5% increase from the previous year. The company’s global market share in 2023 stood at 10%, showcasing its dominant position in the automotive industry. Looking ahead to 2024, Toyota aims to sustain its growth momentum. The company has set a revenue target of $300 billion US dollars, expecting a 4.5% increase compared to 2023. Toyota’s market share is projected to rise slightly to 10.2% in 2024, supported by strategic initiatives and new product launches.
• While referring to Toyota statistics in terms of sales, Toyota sold 9.5 million vehicles worldwide in 2023. This figure is anticipated to grow to 9.7 million cars in 2024, reflecting a growth rate of about 2.1%. This growth is driven by Toyota’s strong focus on hybrid and electric vehicles (EVs) and their commitment to sustainability. Toyota’s electric vehicle sales in 2023 reached 1.1 million units, accounting for approximately 11.6% of their total vehicle sales. For 2024, the company aims to increase its EV sales to 1.3 million units, representing around 13.4% of its projected total sales. This growth aligns with Toyota’s strategy to expand its eco-friendly vehicle lineup and reduce carbon emissions.
• In 2023, Toyota allocated $19 billion US dollars for research and development (R&D), representing about 6.6% of their total revenue. For 2024, Toyota plans to increase its R&D expenditure to $20 billion US dollars, maintaining a similar percentage of its projected revenue. This ongoing investment highlights Toyota’s dedication to innovation and developing new technologies.
• Toyota’s regional market performance in 2023 demonstrated its substantial presence in Asia, where it held a market share of 15%. In 2024, the company aims to increase this share to 15.3%, driven by new model introductions and enhanced market strategies. In North America, Toyota’s market share was 12% in 2023, with plans to grow it to 12.2% in 2024.
• In summary, Toyota’s statistics for 2023 and 2024 emphasize the company’s financial and market strategies focused on growth, innovation, and sustainability. The company’s commitment to increasing its electric vehicle offerings and maintaining robust R&D investments positions it well for continued success in the automotive industry.

Conclusion

Toyota Statistics show that Toyota’s position as a global automotive leader is fueled by its well-established production capabilities, strong brand value, and consistent commitment to innovation. By glancing at Toyota’s statistics, one can understand the cautious but accelerating approach towards their aim to transition towards becoming an EV powerhouse in the coming years. The evergreen popularity of models such as the Toyota Corolla reflects the company’s continued success and its appeal to meet customer requirements.

As the automotive industry focuses on environmental sustainability, Toyota is expected to remain at the forefront of navigating toward future challenges and thus maintain its dominant position in the automobile industry.