Toyota Group Retains Crown As World's Biggest Automaker In 2024

TOKYO, Jan 30 (Bernama-Kyodo) -- Toyota Motor Corp retained its title as the world's largest automaker by sales volume for the fifth consecutive year in 2024, driven by strong sales of hybrid vehicles, according to data released on Thursday.

According to Kyodo News Agency, the auto group, which includes mini vehicle maker Daihatsu Motor Co and truck manufacturer Hino Motors Ltd, sold 10.82 million units in 2024, down 3.7 per cent from a year earlier, the company said.

Toyota's archrival, Germany's Volkswagen AG, sold 9.03 million cars during the year.

Toyota sold 10.16 million cars in 2024, a decrease of 1.4 per cent, after it was hit by a vehicle certification scandal in Japan, following which it briefly halted production of some models. Domestic sales fell 13.8 per cent to 1.44 million units.

By region, the automaker's sales in North America rose by 4.3 per cent to 2.73 million cars, while European sales increased by 3.6 per cent to 1.17 million units driven by brisk shipments of models such as the RAV4 and C-HR. Sales in China fell by 6.9 per cent to 1.78 million vehicles amid stiff price competition.

Sales of hybrid vehicles increased by 21.1 per cent to 4.14 million units, supported by rising demand in major markets like North America and Europe, as the global boom for electric vehicles showed signs of cooling. Meanwhile, the company's EV sales grew by 34.5 per cent to 139,892 units.

The group's global production fell 7.8 per cent to 10.62 million vehicles, with Toyota's output falling by 5.1 per cent to 9.52 million cars.

The automaker halted production of some popular models, such as the Yaris Cross, following the scandal in which it admitted to not fully following government standards in vehicle testing.

-- BERNAMA-KYODO