Revenue for Japan’s major automakers surged in the fiscal year ending March 31, 2024, reaching ¥78.208 trillion, equivalent to $501 billion.
Toyota Motor reported a 21.4% increase in sales revenue to ¥45.095 trillion ($290 billion) in the fiscal year ending March 31, 2024, up from ¥37.154 trillion ($240 billion) in fiscal 2023. Toyota sold approximately 11.23 million vehicles between January and December 2023, with total sales up about 7.2% compared to 2022.
Nissan Motor also announced that its net sales rose 19.7% to ¥12.685 trillion ($81 billion) in the fiscal year ending March 31, 2024, compared to ¥10.596 trillion ($68 billion) in fiscal 2023. Global retail sales of the Nissan Group increased 4.1% year-on-year to 3.442 million units. While retail sales rose 17.2% in regions outside China, such as Japan, North America, and Europe, sales in the Chinese market declined.
Honda reported consolidated sales revenue for the fiscal year ending March 31, 2024, rose 20.8% to ¥20.428 trillion ($130 billion) compared to fiscal 2023, driven mainly by higher automotive sales and positive effects from foreign currency translation. Honda sold approximately 3.7 million cars in fiscal 2023, down about 9.5% from the previous year. Additionally, the company sold around 18.7 million motorcycles and 5.6 million other products during the same period.
