Booming Toyota defies depressed market to achieve record market share
Toyota South Africa Motors (TSAM) says it has sold 142 612 vehicles in 2023 – more than 10 000 units up on 2022 numbers.
This is an 8% increase in a domestic market that in 2023 inched up 0.5% in overall sales compared with 2022.
The local arm of the Japanese car maker also achieved a market share of 26.8% in 2023, which is the highest share in the company’s history.
This means that more than one in four vehicles sold in the local market comes from the Toyota stable.
TSAM sold 132 035 vehicles in the South African market in 2022, recording a market share of 24.9%.
“I am extremely proud and humbled by what the Toyota team has achieved,” says TSAM sales and marketing senior VP Leon Theron.
“Against a backdrop of economic doom and gloom, our dealers and staffers have pulled off a remarkable result.”
Theron also paid tribute to Toyota’s loyal customers.
“Thank you for being a part of our journey and for believing in us all these years. Toyota has been the number-one brand for more than 44 years and through our products and services, we hope to keep you in the family well into the future.”
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