Toyota Motor Corp. has once again claimed the title of the world’s largest automaker by sales in 2024. This marks the fifth year in a row for the company, fueled by strong hybrid vehicle sales.
The Toyota group, which includes Daihatsu and Hino Motors, sold about 10.82 million vehicles last year. That’s a decrease of 3.7 percent compared to the previous year. Despite this dip, Toyota’s separate car sales reached 10.16 million, down a little due to a vehicle certification issue in Japan, which temporarily halted some model productions. Domestic sales fell 13.8 percent, totaling 1.44 million units.
In comparison, Volkswagen AG sold 9.03 million cars globally.
Breaking down sales by region, Toyota saw a 4.3 percent increase in North America, selling 2.73 million vehicles. In Europe, sales were up 3.6 percent, reaching 1.17 million, thanks to popular models like the RAV4 and C-HR. However, sales in China dropped by 6.9 percent, totaling 1.78 million vehicles due to fierce price competition.
A bright spot for Toyota was its hybrid vehicle sales, which surged by 21.1 percent to 4.14 million. This growth came as more consumers turned to hybrids, especially in North America and Europe. Electric vehicle sales also climbed by 34.5 percent, reaching nearly 140,000 units.
However, overall global production for the group slipped by 7.8 percent, with Toyota’s production falling 5.1 percent to about 9.52 million cars. The company had to stop producing popular models, including the Yaris Cross, due to the certification scandal that raised questions about their testing practices.
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Source linkJapan news, Toyota cars, Toyota sales, Daihatsu Hino Lexus, Japan autos, Japan automakers
