Toyota has once again secured its position as the world’s top-selling automaker, selling 10.8 million vehicles in 2024. This marks the fifth consecutive year that Toyota has outpaced competitors, including Volkswagen, which sold just over 9 million units.
Despite maintaining its leadership, Toyota saw a 3.7% drop in total global sales. A significant part of this decline came from Japan, where governance issues affected sales, particularly at Daihatsu. Sales of Toyota’s main brands, including Lexus, also fell by 1.4%.
In China, Toyota’s sales declined 6.9% due to fierce price competition in the world’s largest auto market. However, demand for Toyota’s hybrid vehicles in the U.S. helped offset these challenges. Hybrid models comprised 40.8% of Toyota’s parent-brand sales, while battery-electric vehicles accounted for just 1.4%.
While Toyota faces hurdles, its hybrid strategy has kept it strong in global markets. With continued demand for fuel-efficient vehicles, Toyota remains a key player in the evolving automotive industry.
