Toyota Motor has revealed that it sold 10.8 million vehicles in 2024, retaining its position as the world’s top-selling automaker for the fifth consecutive year.
The Japanese automaker announced a 3.7% decline in its global group sales in 2024, including the sales of its subsidiaries, Daihatsu, and truck-maker Hino Motors. This decrease was mainly due to a significant drop in sales in Japan, stemming from issues related to certification inspection procedures.
Toyota and its luxury brand, Lexus, saw a 1.4% decrease in sales compared to 2023, selling 10.2 million vehicles. Toyota achieved record sales, partly due to high demand for hybrid vehicles in the US, while its sales in China fell by 6.9% amid intense price competition in the world’s largest auto market.
A comparative chart illustrating the sales performance of the three automotive groups, Toyota, Volkswagen, and Hyundai, from 2022 to 2024.
The world’s second-best-selling automotive brand was Volkswagen. The Germany-based automaker reported a 2.3% decline in sales to just over 9 million vehicles in 2024. This drop was attributed to domestic cost-cutting measures and intensifying price competition in the crucial Chinese market.
References: Reuters
Toyota Remains the World’s Best-Selling Auto Brand in 2024
For the fifth consecutive year, Toyota remains the world’s leading automotive brand in terms of sales.
The Top 10 Best-Selling Car Brands in China for 2024: BYD Leaves Toyota and Tesla in the Dust
In 2024, BYD witnessed a remarkable feat, selling an impressive 3.5 million cars to Chinese customers. This achievement left its competitors in the top 10 far behind.
The World’s Most Valuable Car Brand: Toyota
As reported by Brand Finance, a leading global consultancy on brand management and valuation, Toyota reigned as the world’s most valuable automotive brand at the beginning of 2025. With a brand value of $64.7 billion, the renowned automaker experienced a remarkable 23% surge in value compared to the previous year.
The World’s Most Valuable Car Brand in 2025: Toyota Takes the Crown, Leaving Tesla Behind
The automotive giants Toyota, Mercedes-Benz, Hyundai, Tesla, and BMW are locked in a fierce battle for brand supremacy. With Toyota leading the pack, these renowned automakers strive to captivate consumers and assert their dominance in the highly competitive automotive arena.
The Chinese Automakers’ Takeover: Eyeing Volkswagen’s Factory
Chinese automotive officials and manufacturers are eyeing soon-to-be-shuttered factories in Germany, with a particular interest in Volkswagen’s facilities.
