Toyota becomes largest vehicle manufacturer

Sells 9.75 million vehicles in 2012.

New Statesman
Akio Toyoda, president of Toyota. Credit: Getty Images.

The Japanese automaker Toyota Motor Corporation has sold 9.75 million vehicles in 2012, an increase of more than 22 per cent compared to a year ago.

In 2011, the company saw declined in production and sales due to natural disasters in Japan and Thailand. However, Toyota made a steady recovery since then in key markets like the US.

In November 2012, Toyota predicted a net profit of 780bn Japanese yen (£5.4bn) for the year ended 31 March 2013, increasing from its earlier of forecast of 760bn Japanese yen.

Vivek Vaidya, an auto analyst with Frost & Sullivan, told the BBC: “The last two years have been very difficult for Toyota. The regaining of the top slot would definitely be heartening for the firm and is good news for its investors and share holders.”

Meanwhile, the US-based General Motors Company, which was number one vehicle maker in 2011, sold 9.29 million vehicles in 2012.