Autos & TransportationPolitics

Toyota Sells 10.8 Million Vehicles in 2024, Solidifying Its Title as World’s Largest Automaker Despite Sales Decline

Toyota Maintains Global Leadership in Auto Sales

In an announcement made today, Toyota Motor Corporation has reported sales of 10.8 million vehicles in 2024, retaining its position as the world’s largest automotive manufacturer in terms of sales for the fifth consecutive year.

Despite this remarkable achievement, Toyota experienced a 3.7% decrease in global group unit sales, which encompasses both the Daihatsu automotive brand and the Hino Motors truck division. This decline can largely be attributed to significant downturns in the Japanese market, where the company faced challenges stemming from governance issues, particularly related to testing practices at Daihatsu.

In contrast, the Volkswagen Group, ranked second globally, reported a 2.3% drop in its sales for the previous year, totaling over 9 million vehicles. This reduction is part of Volkswagen’s ongoing strategy to streamline costs domestically and to respond to competitive pricing pressures in China, a critical market for the company.

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