Toyota Tops Global Car Sales for 5th Year

  • تاريخ النشر: الخميس، 30 يناير 2025
Toyota Tops Global Car Sales for 5th Year

Toyota announced that it has maintained its position as the world"s best-selling car manufacturer for the fifth consecutive year in 2024, with global sales reaching 10.8 million vehicles.

However, the Japanese company recorded a 3.7% decline in its global sales, which include its subsidiaries Daihatsu and Hino Motors. This decline is primarily attributed to a sharp drop in sales in Japan, where Toyota faced challenges related to governance issues and certification testing procedures, particularly in its compact car unit, Daihatsu.

Despite this decline, Toyota managed to outperform its direct competitor, the German Volkswagen Group, which reported a 2.3% drop in sales, selling just over 9 million vehicles. Volkswagen is currently focusing on cost reduction in its domestic market and addressing intense price competition in China.

On the other hand, the strong demand for Toyota"s hybrid vehicles in the United States has helped the company achieve record sales figures.

In China, the world"s largest car market, Toyota"s sales declined by 6.9% due to fierce competition. Nevertheless, the company saw an increase in hybrid vehicle sales, while electric vehicles accounted for a mere 1.4% of its total sales.

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