Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
Why a ‘rip-off’ degree might be worth the money after all – research study 
The Beauty Beneath the Expressway: A Journey from Self to Service 
Can your cat recognise you by scent? New study shows it’s likely 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Parents abused by their children often suffer in silence – specialist therapy is helping them find a voice 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Toyota Motor Corp solidifies its position as the world's top auto seller for the first half of 2023, outpacing competitors and marking the fourth consecutive year of leadership. The robust sales performance was driven by global production capacity expansion and the successful countering of chip shortage issues.
In January-June, Toyota reported sales of 5.42 million vehicles worldwide, an increase of 5.5 percent compared to the previous year. This achievement includes the sales of Daihatsu Motor Co, the group's mini-vehicle maker, and Hino Motors Ltd, the truck manufacturer.
Toyota attributed its solid sales performance to its efforts in expanding production capacity globally, which allowed them to meet the growing demand despite the chip shortage issue that continues to impact the industry. During the same period, Volkswagen recorded sales of 4.37 million vehicles, marking a growth of 12.8 percent.
The Toyota group's global output witnessed a significant increase of 10.3 percent, reaching a record-breaking 5.63 million units. Furthermore, its production outside Japan reached an all-time high of 3.53 million vehicles, reflecting a 4.9 percent growth.
Regarding domestic sales, the group experienced a notable increase of 26.9 percent, with 1.21 million vehicles sold. This positive development can be attributed to the recovery from the aftermath of the COVID-19 pandemic and the resolution of parts shortages.
However, overseas sales only saw a marginal increase of 0.6 percent, with 4.21 million cars sold. The automaker cited weaker sales in China as responsible for this lackluster growth, despite experiencing growth in Europe.
Toyota's electric vehicle sales saw a remarkable surge, increasing more than fivefold to 46,171 units during this period. The introduction of the all-electric vehicle RZ, under the upscale Lexus brand, played a significant role in achieving this milestone.
Among other carmakers, Honda Motor Co reported a decline of 3.3 percent in global sales for the first half of the year, with 1.84 million units sold. Similarly, worldwide sales at Nissan Motor Co remained nearly unchanged, with 1.67 million cars sold.
The total global production by the eight major Japanese automakers witnessed a notable rebound, increasing by 8.5 percent to 12.55 million units in the first half of this year.
This positive development indicates that the industry has successfully recovered from the challenges posed by the pandemic and the parts-supply bottleneck. By improving its production capacity and adapting to market demands, Toyota has solidified its position as a leader in the global automotive industry.
Photo: Mary B/Unsplash
