Toyota Motor Corp. topped its sales target for the recently ended fiscal year, a positive sign ahead of the carmaker’s earnings announcement next month, although analysts warn of a potentially challenging year ahead.
Toyota sold 903,031 vehicles in March, the automaker said Wednesday, bringing the total to 9.51 million units for the business year through March, its second-highest annual figure. That’s above the company’s most recent goal to sell 9.4 million vehicles. Toyota produced 8.57 million vehicles in the period, broadly in line with its 8.5 million-unit forecast.
Over the past year, the world’s biggest automaker has faced soaring demand for cars. Strong sales in Asia and North America of models such as the RAV 4 SUV, led Toyota to finish out the 2021 calendar year as the world’s top-selling automaker.