Unsurprisingly for the fifth year in a row, Toyota is once again the world’s top-selling car brand. According to Reuters, this was due in part to the hybrid cars making up 40.8% of its total global sales, particularly in the United States where demand is high.
The achievement is not without challenges it faced throughout the year, though. While sales for hybrids were up in the US, the brand saw stiff competition in China from electric vehicle (EV) juggernauts the likes of BYD and Tesla, where competitive pricing across the board saw Toyota’s sales figures drop by 6.9% in the country.
In its home base in Japan, Toyota also saw a decline in domestic sales, primarily caused by the fallout from the litany of scandals the carmaker was embroiled in concerning safety and certification test procedures.
The namesake Toyota brand and Lexus both saw sales fell 1.4% to 10.2 million vehicles as a result of the decline in Japan, but it was Daihatsu that saw the brunt of the impact.
Overall, the Toyota group has seen a 3.7% decline compared to the record 11.2 million vehicles sold in 2023. Battery electric vehicles (BEV) made for 1.4% of its overall volume.
Meanwhile, Volkswagen is ranked second with 9.03 million vehicle sales and a drop of 2.3% in 2024. Completing the podium is Hyundai Motor Group with 7.2 million vehicle sales (down 1%), placing it third in sales numbers.
READ: BYD sales surged in 2024 with over 4.2 million vehicles sold globally – PHEVs leading the charge
