Toyota receives the first-place title for a second year Half of the companies, in the ASCIOO top 10 revenue ranking, wer

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Toyota receives the first-place title for a second year
Half of the companies, in the ASCIOO top 10 revenue ranking,were automakers, with Toyota Motor reigning on the list again witha revenue of around US$282 billion. Though COVID-19 and the chipshortage worldwide forced it to cut production, Toyota saw a 13.8%year-over-year (YOY) revenue growth in 2021. Like most of itscounterparts, the carmaker benefited from the firm demand in theUS, China and Japan.
Toyota's global consolidated vehicle unit sales increased 7.6%in FY2022 (April 2021 to March 2022), according to the company'sfinancial summary. Sales revenues in Asia grew the most at 29.4% inJapanese Yen, thanks to production volume and unit sales increase.Exchange rate changes also played a role.
The ongoing spread of COVID-19 and government responses havekept the Japan-based automaker curbing production in selectedplants. In addition, geopolitical tensions may cause moreramifications to the supply chain. Therefore, Toyota projected itsFY2023 sales revenue growth would scale back at 5.2% (in JPY).
Source:(Peng Chen, 2022). Retrieved on May 31, 2022 fromhttps://www.digitimes.com/news/a20220524VL210/a ... op-10.html
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