H. Yoo
Research expert covering South Korea
Toyota Motor Corporation - Statistics & Facts
On June 4, 2024, Japan’s transport ministry started to inspect Toyota’s offices after a safety test scandal impacting five of the country’s largest automakers widened during the previous week. Earlier that year, the Japanese automaker announced it would suspend shipments of some of its key models after finding irregularities in certification tests for diesel-powered engines developed by its partner, Toyota Industries. The testing scandal continued in July of that same year, when Toyota reported more cases of faulty certification tests, including for its Camry and RAV4 models. While the company assured no safety problems were associated with the issues, meaning Toyota car owners did not need to take any action, this misconduct was projected to negatively influence the company’s 2025 financial performance. The corporation’s results support this projection. Although 2025 was the best year on record for sales revenue, the Toyota Motor Corporation’s operating profit dropped by around 10.4 percent year-over-year.
In contrast, brand loyalty in Japan decreased slightly, according to Statista surveys. Between April 2023 and March 2024, around two in 10 online consumers in Japan which reported owning a Toyota also reported being likely to change the make of their primarily used car at the next possible opportunity, a share which grew closer to three out of 10 consumers between April 2024 and March 2025.
The Toyota Motor Corporation’s financial performance in its 2025 fiscal year, though mitigated by the challenges it faced in its domestic market, remained better than the results recorded during the height of the COVID-19 pandemic. The strong international competition. However, the company’s market capitalization declined between March 2024 and March 2025, a further sign of the impact domestic issues can have on the manufacturer’s performance.
International markets unimpacted by the testing issues
During its 2024 fiscal year, running from April 2024 to March 2025, the Toyota Motor Corporation reported around 48 trillion Japanese yen in revenue. Despite its challenges in its domestic market, Japan remained Toyota Motor’s largest market, accounting for nearly half of Toyota Motor’s revenue in its 2025 financial year. Vehicle sales in Japan also only marginally decreased during that year, contrasting with a larger dip in North American sales. North America was the Toyota Motor Corporation’s largest market in terms of unit sales, partly due to the popularity of its Toyota and Lexus brands in the United States. In 2024, Toyota was the second best-selling brand in the country, and reported a high consumer satisfaction in the country.In contrast, brand loyalty in Japan decreased slightly, according to Statista surveys. Between April 2023 and March 2024, around two in 10 online consumers in Japan which reported owning a Toyota also reported being likely to change the make of their primarily used car at the next possible opportunity, a share which grew closer to three out of 10 consumers between April 2024 and March 2025.
Challenges to the Toyota Motor Corporation’s market-leading position
Other international markets were equally not affected by the testing issues the manufacturer recorded in Japan. In 2024, its eponymous brand was the only make to hold over 10 percent of the global market. With a valuation of 29.3 billion U.S. dollars, it further ranked as the second most valuable brand within the automotive sector as of March 2025. However, the Toyota Motor Corporation is facing stiff competition to maintain its leading position in the market. The Volkswagen Group is Toyota Motor’s biggest competitor, as the two have consistently topped the leading global motor vehicle manufacturers based on sales volume and sales revenue. The Volkswagen Group had also recorded a good financial performance in its latest fiscal year, partly due to a growth in global car sales across manufacturers.The Toyota Motor Corporation’s financial performance in its 2025 fiscal year, though mitigated by the challenges it faced in its domestic market, remained better than the results recorded during the height of the COVID-19 pandemic. The strong international competition. However, the company’s market capitalization declined between March 2024 and March 2025, a further sign of the impact domestic issues can have on the manufacturer’s performance.
