“By having top managements go down and brainstorm together with frontline workers, we plan to reexamine the purpose, content, safety and quality of our work and strengthen our foothold. Further, we aim to create capabilities that enable us to take on further challenges and plant seeds for the future,” Toyota said in a release.

In Japan sales increased only 5%. However Japan posted the highest earnings ~66% of Q3 profits) and at 20% the highest operating margin among its major markets.

“Over the 20- to 30-year life cycle of vehicles, we will aim to deepen our connection and establish a long-term relationship with our customers. Through having vehicles become part of the social infrastructure, we will seek to generate new value,” Toyota said. Toyota remains the top-selling Global automaker for the fourth consecutive year in 2023 with record sales of 11.2 million vehicles.