Toyota sales up by 10.1% in 2021, highest in decade

People stand near a Toyota GR Supra at the Indonesia International Auto Show in Tangerang, near Jakarta, Indonesia on November 12, 2021. REUTERS Ajeng Dinar Ulfiana

The carmaker said last year that sales of 10.5 million vehicles were up by 10.1%, making it the world's biggest carmaker for a second year and further ahead of its nearest rival, Germany's Volkswagen AG VOWG P. DE The carmaker said sales were 10.5 million vehicles in 2021, including those by affiliates Daihatsu Motors and Hino Motors.

That is compared to 8.9 million delivered by Volkswagen in the same period, a 5% fewer than in 2020 and its lowest sales figures in 10 years.

Carmakers have had to cut output because of a shortage of semiconductors during the coronaviruses, which has caused increased competition for the key component among manufacturers of consumer electronic devices.

The Japanese company has weathered the pandemic better than most other carmakers because its home market, Japan and parts of Asia, has been less affected than Europe.

Toyota, which releases third-quarter earnings on February 9, said it is likely to fall short of a production target of 9 million vehicles in the business year ending March 31 because of disruptions related to COVID - 19.