An indication is displayed outdoors a Toyota Motor Corp. dealership on Jan. 30, 2024 in Tokyo, Japan.
Tomohiro Ohsumi | Getty Pictures Information | Getty Pictures
Toyota Motor offered 10.8 million autos in 2024, it stated on Thursday, remaining the world’s top-selling automaker for a fifth straight yr.
The Japanese automaker posted a 3.7% drop in international group unit gross sales final yr, together with these of compact automotive maker Daihatsu and truck unit Hino Motors.
The decline was largely attributable to a steep stoop in gross sales in Japan the place the automaker confronted fallout from governance points over certification take a look at procedures, particularly at Daihatsu.
Second-ranked German rival Volkswagen Group earlier this month reported a 2.3% decline in unit gross sales final yr to simply over 9 million autos, because it seeks to chop prices at residence and struggle a value conflict in key market China.
Gross sales of Toyota’s parent-only autos, which embody these of its namesake and Lexus manufacturers, fell 1.4% from a yr earlier in 2024 to 10.2 million autos attributable to a double-digit decline in Japan.
Whereas Toyota offered a document variety of vehicles total, thanks partly attributable to demand for its hybrid autos in the USA, it noticed unit gross sales in China decline by 6.9% amid heavy value competitors on this planet’s high automotive market.
Of its parent-only gross sales, gasoline-electric hybrids made up a document 40.8%. Battery electrical autos accounted for 1.4%.