Annual Results 2021: Toyota Continues to Grow and Remains the Largest Car Manufacturer in the World

Finally, Toyota was able to once again invite people into its hallowed halls of the Toyota Collection to present old treasures and new developments – and pleasing figures. Accordingly, the Japanese also plan for growth again in 2022. Especially since they were able to withstand the COVID-19 pandemic and the global semiconductor shortage in 2021. In total, 10.5 million vehicles were sold globally in 2021, around ten percent more than in 2020.

The reasons for this were not only planning and technical nature but also "soft facts," namely according to Toyota, the "long-term and trustworthy collaboration with suppliers, but also the learning from past crises" such as the 2011 tsunami. All this has brought the brand, suppliers, and customers closer together, which according to Toyota "helps with ongoing problems just as much as with new ones."

Now the second-strongest brand in Europe

In Europe, with nearly 1.08 million vehicles sold, they were the second-strongest passenger car brand in 2021 and recorded a sales increase of 8.4 percent compared to 2020. The Europe-wide market share climbed by 0.4 points to a record 6.4 percent. Toyota has now further specified this value: The market share increased by 0.6 to 6.3 percent.

Since 2018, with the two brands Toyota and Lexus, there has been an increase of nearly 1.5 percentage points. Responsible for this is the demand for the electrified model range, which includes hybrid, plug-in hybrid, electric, and fuel cell vehicles. Their sales increased by 19 percent to 623,777 units in 2021, making up 58 percent of Toyota's total sales in Europe. In Western Europe, the electrified share is already at 70 percent. Matt Harrison, President and CEO of Toyota Motor Europe, explained:

"We thank our customers for their loyalty and trust. The consistently high demand is evidence of the success of our strategy to expand the model range with new emissions-free and low-emission electrified vehicles. Through the product and powertrain mix, Toyota has achieved the EU-wide CO2 targets for 2021. On the path to our own CO2 neutrality, we are determined to continue to do so in the future."

Both Toyota and Lexus have already presented several new electrified models and ambitious goals in December 2021: By 2030, they aim to offer 30 battery-electric models worldwide in all segments. Almost all future electric models will have a combustion counterpart from the present time. The news ranged from the Aygo-X successor to the Hilux as an electric vehicle. The message was clear: In the future, the company will continue to offer a huge range for all needs.

In Western Europe, at that time, at least every second vehicle should be emissions-free, and Lexus will be a pure electric provider. TME will expand its product portfolio to include ten emissions-free models by 2025, even before all new vehicles in the EU are CO2-free by 2035.

Despite the Ukraine conflict, Toyota also plans for a strong year in 2022 

And despite the uncertainties associated with the Ukraine war, Toyota expects another strong year. This is also supported by regional on-site production: 70 percent of the vehicles sold in Europe are also manufactured in the region. Local research and development centers as well as design studios ensure models that are meant to reflect the wishes and needs of European customers.

In addition to the combustion-engine Aygo X and the fun coupé GR 86, 2022 will be primarily about the first electric vehicle, the bZ4X, making a splash. However, it is only the beginning: By 2025, the company aims to sell 5.5 million electrified vehicles worldwide. To achieve this, more than 70 electrified models will be introduced, including 15 locally emission-free fuel cell or purely electric cars. By 2030, 30 purely electric vehicle models are planned.

Additionally, the topic of fuel cells is being developed further beyond just cars, and the company remains successful in motorsport - enduringly: They participate at the forefront in the Dakar Rally as well as in the endurance races at Le Mans - making motorsport a good symbol for the entire corporation.

What does that mean?

Toyota stays true to its roots and continues to grow very steadily - with a touch of humility: Because in addition to driving pleasure and sustainability, they still pay attention to attractive prices and durability, which is backed by up to a ten-year Toyota Relax warranty. And even though Toyota discovered electric vehicles late and by far doesn't always offer such "green" models as it may seem, humility is still a virtue: For solid business. In 2021, Toyota was again the world's largest car manufacturer and was able to widen the gap from the runner-up VW and the third-placed Hyundai group. VW had to be content with just under 8.6 million units and Hyundai with just under 6.7 million units.