Toyota remains as world’s number one automaker for fifth consecutive year

Throughout 2024, Toyota Motor Corp sold a total of 10.82 million vehicles, allowing the automaker to maintain its global leadership for the fifth consecutive year.

Despite this figure representing a 3.7 percent decline compared to 2023, Toyota explained that there is still strong demand for its hybrid vehicles.

The second place was secured by the Volkswagen Group, with total sales of 9.03 million units, while the Hyundai Group recorded sales of 7.23 million units.

For the first time, BYD surpassed Honda, Nissan, and Suzuki with sales of 4.27 million units last year.

In comparison, Honda sold 3.81 million units, followed by Nissan with 3.35 million units and Suzuki with 3.25 million units.

Excluding brands under its umbrella such as Hino and Daihatsu, the sales figures for Toyota-branded vehicles alone reached 10.16 million units, a drop of 1.4 percent, following its involvement in a vehicle certification scandal, which led to a temporary halt in the production of certain models.

In key markets, Toyota recorded a 4.3 percent increase in sales, reaching 2.73 million vehicles in North America, followed by a 3.6 percent increase to 1.17 million vehicles in Europe.

However, Toyota’s sales in China saw a decline of 6.9 percent, totaling 1.78 million vehicles, due to ongoing price wars among major domestic manufacturers.