The World’s Best-Selling Auto Maker for 5 Consecutive Years

Toyota Motor Corporation has announced that it sold a total of 10.8 million vehicles in 2024, maintaining its position as the world’s best-selling automaker for the fifth consecutive year.

A Slight Dip but Still on Top

The total sales of Toyota, including its Lexus and subsidiary brands such as Daihatsu and Hino, experienced a 3.7% decline compared to the previous year.

According to Reuters, Toyota’s sales performance in 2024 was likely impacted primarily by the Japanese market.

Toyota continues to offer sought-after models globally despite an overall sales dip. Image: Toyota.

Volkswagen maintained its position as the second-largest automaker in terms of global sales. The group’s total sales for 2024 decreased by 2.3% to just over 9.2 million vehicles.

Reuters attributed this decline to Volkswagen’s cost-cutting efforts and the ongoing price wars in China, a key market for the company.

The Hyundai Group, including the Hyundai, Kia, and Genesis brands, is estimated to be the third-largest automaker globally in terms of sales for the past year, according to Motor1.

The combined sales of Hyundai, Kia, and Genesis brands amounted to 7.23 million vehicles, a slight decrease of 1% compared to the previous year.

A Focus on Hybrid and Traditional Engines

According to Reuters, the strong demand for Toyota’s hybrid vehicles in the US market played a crucial role in the Japanese automaker’s global sales performance for the year.

Hybrid vehicles accounted for 40.8% of Toyota’s total sales in 2024, an increase of 21.1%, amounting to 4.14 million units. Meanwhile, pure electric vehicles also showed positive results, making up 1.4% of total sales, with a 34.5% increase to 139,892 units.

The Toyota Camry Hybrid is a key model for the Japanese automaker in several markets.

In China, Toyota’s sales declined by 6.9% amid intense price competition in the world’s largest auto market.

Motor1 highlighted that traditional internal combustion engines remain a significant business for Toyota, allowing the company to maintain its presence in various global markets.

Toyota offers a diverse range of vehicles, from kei-cars popular in Japan to large SUVs tailored for the US market. The automaker also boasts a comprehensive car portfolio, including sedans, wagons, pickup trucks, minivans, and even high-performance models like the GR86 and GR Supra.

Toyota’s production data for 2024 showed a total of 10.615 million vehicles manufactured globally. Compared to the previous year, the output of Toyota, including Lexus, Daihatsu, and Hino, decreased by 7.8%.

Despite economic and political uncertainties, Toyota remains a preferred choice for consumers in various markets worldwide.

Although it has been relatively slower in the electric vehicle race, Toyota’s focus on hybrid and traditional engines has kept it ahead of European, American, and Chinese rivals in terms of sales.

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