For Toyota, it has been a mixed start to 2024: The carmaker defended its position as the world’s top vehicle-seller for the fourth straight year in 2023, but it is also mired in a series of misconduct scandals involving its group firms, which threaten to tarnish its brand.
Thanks to the reduced impact of chip shortages, on Tuesday it was reported that unit sales by Toyota and its subsidiaries climbed 7.2% from the previous year to a record 11.23 million. Production by Toyota and its group firms also reached a record high of 11.52 million units last year, up 8.6%.
But despite the steady performance of its business, Toyota has been shaken by wrongdoing at its group firms, leading to an apology from the carmaker's chairman.