Toyota statistics 2024
In 2023, Toyota solidified its position as the world's largest auto manufacturer in all but revenue, accounting for 10.7% of the global market share. This success places Toyota ahead of leading competitors like Volkswagen and Honda, which hold 6% and 4.6% market shares, respectively. Sales for Toyota Motor North America (TMNA) are also up from 2022, with more than 2.2 million vehicles sold in the U.S.
Toyota's consumer popularity and market dominance can be partly attributed to widespread demand for a few of its top models across the U.S. The Toyota Camry, RAV4 and Corolla are among the leading models sold in California, collectively accounting for about 10% of that state’s auto sales in 2021. In the following year, Toyota models were the most popular vehicles in 14 states, with the RAV4 being the top choice in 12 states.
Toyota is the largest auto manufacturer by global market share, accounting for 10.7% of the market in 2023. Volkswagen and Honda take second and third place, with 6% and 4.6% market shares, respectively.
Jump to insightTMNA’s auto sales surpassed 2.2 million in 2023, marking a 6.6% increase on a volume basis and a 7% increase on a daily selling rate (DSR) basis from 2022.
Jump to insightThe Toyota Camry, RAV4 and the Corolla are the three bestselling Toyota models in California. Combined, these vehicles account for about a tenth of all vehicles sold in that state.
Jump to insightToyota models are the most popular vehicles in 14 of the 50 U.S. states, with the RAV4 claiming 12 of those 14. Additionally, the Toyota Tacoma is most popular in Hawaii, and the Corolla is most popular in Florida.
Jump to insightSeveral Toyota car models have average life spans of 14 years or longer, including the Avalon, Tacoma and Tundra.
Jump to insightToyota statistics
Toyota is one of the top auto manufacturers and the largest in the world by market share, at 10.7%. Volkswagen trails behind in second, with a market share of 6%. Toyota also led the industry by the number of units sold globally in 2022, at 10.5 million.
Volkswagen took the top spot for worldwide revenue among all car companies from June 2022 to June 2023, while Toyota ranked second with a revenue of $286.15 billion during that period.
Toyota sales statistics
In 2023, TMNA reported reaching 2,248,477 U.S. vehicle sales. This marked a 6.6% increase on a volume basis and a 7% increase on a DSR basis over sales in 2022. With 619,661 vehicles sold, TMNA’s fourth quarter of 2023 was especially strong, reflecting a 15.4% increase on a volume basis and an 18.5% increase on a DSR basis compared with the same period the year prior.
December was the strongest month for TMNA in 2023, with 226,116 vehicles sold during that month alone. This represented a significant increase of 25.5% on a volume basis and a remarkable 30.3% increase on a DSR basis over December 2022.
What is the bestselling Toyota model in California?
During the first nine months of 2021, the Toyota Camry was the bestselling car model in California, with 51,111 total registrations and a 39.8% share of the total midsize vehicle market. The Toyota Corolla ranked just behind the Honda Civic among the bestselling compact vehicle models, with 43,832 registrations and a 23.3% market share within its segment.
As for light trucks and SUVs, the Toyota RAV4 was the best-seller, with 48,182 registrations during that period. The Toyota Tacoma and Toyota Highlander also had strong sales in California during that time, with 35,122 and 23,472 registrations, respectively.
In total, the top three bestselling Toyota models in California (the Camry, RAV4 and Corolla) approximated a total market share of just under 10%, meaning that just three Toyota models accounted for nearly a tenth of all vehicles sold in California from January through September 2021.
Where in the U.S. are Toyotas most popular?
Toyota models were the most popular vehicles in 14 of the 50 U.S. states in 2022. The Toyota Tacoma was the most popular model in Hawaii, and the Corolla was the most popular in Florida. But the Toyota RAV4 enjoyed the most widespread popularity among any type of Toyota that year, as it was the most popular model in these 12 states:
- Connecticut
- Illinois
- Maryland
- Massachusetts
- New Hampshire
- New York
- North Carolina
- Oregon
- Pennsylvania
- Rhode Island
- Virginia
- Washington
How popular is Toyota?
As of 2023, Toyota has been the world’s top-selling automaker for four consecutive years. In 2023 alone, the company sold an impressive 11.2 million vehicles, a 7.2% increase in vehicle sales from 2022. The brand has several well-known and bestselling models, including the award-winning Camry, the hybrid Crown and the fuel-efficient Prius. The RAV4 is especially popular in the U.S., as it held the distinction of being the bestselling vehicle in 12 of the 50 states in 2022.
What are the longest-lasting Toyota models?
The Toyota Avalon is ranked as the longest-lasting Toyota model, with an average life span of 15 years and 202,015 miles. The Toyota models with the second- and third-longest life spans are the Toyota Tacoma and the Toyota Tundra, which have average life spans of 14.8 and 14.2 years, respectively.
FAQ
Is Toyota a good place to work?
According to Fair360, Toyota North America ranks fourth among the top 50 companies for workplace fairness as of 2024, maintaining its position within the top 10 for the third consecutive year. Toyota North America is also ranked by Fair360 as:
- No. 2 for Black Executives
- No. 2 for LGBTQ+ Employees
- No. 3 for Philanthropy
- No. 4 for Environmental, Social and Governance
- No. 5 for Asian American Executives
- No. 5 for Native American/Pacific Islander Executives
- No. 5 for the Board of Directors
- No. 6 for Latino Executives
- No. 11 for Sponsorship
- No. 14 for Supplier Fairness
- No. 17 for Mentoring
What percentage of cars are Toyota?
Approximately 10.7% of cars on the road today are Toyota models. By this metric, Toyota is the largest auto manufacturer in the world, far ahead of the runner-up, Volkswagen (6%).
What is Toyota's most sold vehicle?
As of 2021, the Toyota Corolla is the company’s most sold vehicle, with over 43 million units sold worldwide. The vehicle was first sold in the U.S. in 1986. The second-most popular Toyota model is the Toyota Camry, with 12.4 million units sold as of that year.
What is the bestselling car in America?
The Ford F-150 is the bestselling car in America. The Toyota RAV4 ranks as the fourth bestselling car and is the most popular SUV in the country, while the Toyota Camry ranks sixth among the bestselling cars in America. The Camry has also been the bestselling passenger car in the U.S. for 19 consecutive years.
Why are Toyotas so popular?
Toyotas are popular because of their quality and reliability, among other reasons. The Toyota Product Development System takes a holistic approach to new vehicle design that considers the latest technology, processes and trends in auto manufacturing. This system is highly customer-focused, prioritizing the needs and requirements of drivers and passengers. Toyota standardizes and benchmarks vehicle design and development to ensure that every finished product is of high quality.
Other factors that contribute to the company’s success include:
- The Toyota Production System: This system is based on 13 principles, including learning from mistakes, fostering teamwork and incorporating human intelligence into automated processes.
- Kaizen: The Japanese concept of continuous improvement culture aims to constantly increase efficiency and minimize waste.
- Quality management: Proactive error identification and correction in manufacturing helps maintain an excellent standard across vehicle output.
- Strong engineering: The practice of “overbuilding” — e.g., using highly durable and resilient engine components — creates products that are built to last for long periods of use on the road.
- Supply chain quality: Close relationships with suppliers guarantee the use of consistently high-quality materials.
- Thorough product testing: Rigorous testing of all components ensures that vehicles meet exacting standards.
References
- “Toyota Motor North America Reports 2023 U.S. Sales Results.” Toyota Newsroom. Evaluated July 1, 2024.Link Here
- “California Auto Outlook.” California New Car Dealers Association. Evaluated July 1, 2024.Link Here
- “Most Popular Car by State 2024.” World Population Review. Evaluated July 1, 2024.Link Here
- “Toyota Remains The World’s Top-Selling Automaker.” Tracy Toyota. Evaluated July 1, 2024.Link Here
- “Toyota Reliability Rating for 2024.” iSeeCars. Evaluated July 1, 2024.Link Here
- “Toyota Ranks 4th on Fair360’s Top 50 Companies.” Toyota Newsroom. Evaluated July 2, 2024.Link Here
- “Global automotive market share in 2023, by brand.” Statista. Evaluated July 2, 2024.Link Here
- “What are the Best Selling Toyota Models of All Time?” Thousand Oaks Toyota. Evaluated July 2, 2024.Link Here
- “What are the most popular cars in the United States?” CarInsurance.org. Evaluated July 2, 2024.Link Here
- “What Makes Toyotas So Reliable?” Longo Toyota. Evaluated July 2, 2024.Link Here
Figures