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 thecompanies, in the ASCIOO top 10 revenue ranking, were automakers,with Toyota Motor reigning on the list again with a revenue ofaround US$282 billion. Though COVID-19 and the chip shortageworldwide 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 globalconsolidated vehicle unit sales increased 7.6% in FY2022 (April2021 to March 2022), according to the company's financial summary.Sales revenues in Asia grew the most at 29.4% in Japanese Yen,thanks to production volume and unit sales increase. Exchange ratechanges also played a role.
The ongoing spreadof COVID-19 and government responses have kept the Japan-basedautomaker curbing production in selected plants. In addition,geopolitical tensions may cause more ramifications to the supplychain. Therefore, Toyota projected its FY2023 sales revenue growthwould 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