By Anjali Sharma
NEW YORK – According to the news media reported on Thursday said that Toyota Motor remained the world’s top-selling automaker for a fifth straight year in 2024 selling 10.8 million vehicles.
Japanese automaker posted a 3.7 per cent drop in global group unit sales including those of compact car maker Daihatsu and truck unit Hino Motors.
It was largely due to a steep slump in sales in Japan where the automaker faced fallout from governance issues over certification test procedures, especially at Daihatsu, media reported.
Sales of Toyota’s parent-only vehicles, which include those of its namesake and Lexus brands, fell 1.4 per cent from a year earlier in 2024 to 10.2 million vehicles due to a double-digit decline in Japan.
Toyota sold a record number of cars overall, due to demand for its hybrid vehicles in the United States, it saw unit sales in China decline by 6.9 per cent amid heavy price competition in the world’s top car market.
Its parent-only sales, gasoline-electric hybrids made up a record 40.8 per cent. Battery electric vehicles accounted for 1.4 per cent.
German rival Volkswagen Group, is second-ranked, this month reported a 2.3 per cent decline in unit sales last year to just over 9 million vehicles, as it seeks to cut costs at home and fight a price war in key market China.
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