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Toyota Maintains Top Automaker Spot In 2024, Despite Lower Sales

Anis

31-1-2025

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Toyota Motor Corporation, including Hino Motors and Daihatsu, sold 10.8 million vehicles in 2024. This figure represents a 3.7% decrease from the previous year, but still secured Toyota's position as the top-selling carmaker globally for the fifth consecutive year.

The decline in sales was primarily due to a significant drop in the Japanese market, attributed to governance issues surrounding certification test procedures, particularly at Daihatsu. Toyota's parent-only sales, encompassing the Toyota and Lexus brands, experienced a 1.4% decrease to 10.2 million vehicles, largely due to the double-digit decline in Japan.

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The carmaker experienced a 6.9% decrease in unit sales in China due to intense price competition, despite achieving record global car sales fueled by high demand for hybrid vehicles in the US. Hybrid gasoline-electric vehicles accounted for a record-breaking 40.8% of Toyota's parent-only sales, while battery electric vehicles only made up 1.4%.

Although Toyota, like many other foreign automakers, has struggled in China, it has seen success in the U.S. and other markets due to consumers shifting their preferences from fully electric vehicles to hybrid vehicles. Caricarz-MBA-Toyota-GRYaris-8AT-KLIMS2024-13-full-full_normal.jpgweb_WA_CariCarz_2025-Toyota-GR-Yaris_GR-Corolla_Corolla-GR-S_launch_-2-full-(1).jpg


Meanwhile, rival Volkswagen recently announced that its group car deliveries fell 2.3% to 9.03 million in 2024 due to intense competition. In contrast, China's BYD reported a 41% increase in car sales, reaching 4.3 million last year.

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Written By

Anis

Previously in banking and e commerce before she realized nothing makes her happier than a revving engine and gleaming tyres........

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JPJ Running Numbers

KUALA LUMPUR

VNR3014

SELANGOR

BSC4648

JOHOR

JXR5234

PULAU PINANG

PRM8154

PERAK

ANT4917

PAHANG

CFA9201

KEDAH

KFY1182

NEGERI SEMBILAN

NEE5894

KOTA KINABALU

SJJ3829

KUCHING

QAB7401K

Last updated 07 Feb, 2025

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Last updated 06 Feb, 2025

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