In the race to become the world’s best-selling automobile brand, German giant Volkswagen and Japanese giant Toyota compete every year. However, this title has gone to the same brand for 3 years in a row, and it was the same this year.
Toyota became the best-selling car brand in the world for 4 consecutive years
For the fourth year in a row, Toyota surpassed its German rival Volkswagen in total global vehicle sales and became the world’s best-selling automobile brand. Figures released by Toyota on Tuesday revealed that the Japanese automaker sold 11.2 million vehicles worldwide in the last 12 months, a significant increase of 7.2% compared to the previous year. This achievement also sets a new annual record for car sales among all automakers.
Volkswagen, Toyota’s closest rival, ranked second with 9.2 million sales, a significant increase of 12% compared to the previous year. South Korean-based Hyundai-Kia ranked third by selling 7.3 million vehicles, an increase of 6.7% compared to the previous year.
While the majority of Toyota’s sales were vehicles bearing the Toyota or Lexus badge, additional contributions were made by Toyota subsidiaries Daihatsu and Hino Motors. The USA stood out as Toyota’s largest market with sales of 2.6 million, indicating a 7% increase compared to the previous year.
While hybrid vehicles account for about a third of Toyota’s total sales, the company is slowly entering the fully electric car market, with electric vehicle sales accounting for less than 1% of its total sales.
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Despite its impressive sales performance, Toyota is not without its challenges. Several scandals have affected the company, including the suspension of shipments of several models due to irregularities found in tests for diesel engines developed by supplier Toyota Industries. In addition, it was revealed that Daihatsu had committed irregularities in safety tests towards the end of the previous year, and in 2022, it was also revealed that Hino Motors had falsified emission data.
Toyota Chairman Akio Toyoda expressed his deep apologies to customers and stakeholders for the inconvenience caused by these irregularities. Despite all this, Toyota managed to become the best-selling automobile brand in the world.
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