Toyota Motor kept its place as the world's top-selling automaker in 2023 for the fourth straight year. German rival, Volkswagen Group, came second.

Toyota says global group sales, including those of Daihatsu Motor and Hino Motors, hit a record 11.2 million units, up 7.2 percent from the previous year.

The auto giant says the impact of semiconductor shortages has mostly faded, and demand was strong in both Europe and North America.