• Toyota average gross margin for 2023 was 18.43%, a 3.71% increase from 2022.
• Toyota average gross margin for 2022 was 17.77%, a 7.3% increase from 2021.
• Toyota average gross margin for 2021 was 19.17%, a 11.65% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.