Toyota sold 10.5 million vehicles worldwide during 2021. The Japanese company’s sales increased by 10.1% compared to last year.
Toyota is already ranked as the largest carmaker in the world for the second year in a row.
Competition with German Volkswagen has narrowed.
Car manufacturers have been forced to cut production because the lack of semiconductors during the pandemic disrupted supply chains, increasing competition for the key component among manufacturers of consumer electronics.
However, the Japanese company has weathered the pandemic better than most other carmakers because its domestic market, Japan and parts of Asia, have been less affected than Europe.
Toyota, which publishes third-quarter earnings on February 9, has said it is unlikely to reach its production target of 9 million vehicles.