Although complete sales figures for 2024 have yet to be released, Toyota is already celebrating its fifth consecutive year as the global sales leader ahead of schedule. According to statistics, Toyota and its sub-brands Lexus, Daihatsu and Hino have sold a cumulative total of 9,857,938 vehicles globally through November, which is 618,438 units more than its rival Volkswagen Group.
Volkswagen Group released its complete sales figures for the past 12 months last week, showing a 2.3 percent year-on-year drop in sales to a total of 9,239,500 units. In comparison, Toyota has secured the top spot in global sales, even without counting December's sales figures. This also means that Toyota has held the title of the world's largest automaker for five consecutive years since 2020. Although its sales fell 3.6% from January to November when looking at the same period in 2023, it is still hard to hide the success of its global layout.
Toyota's success can't be attributed to its diverse product lineup that covers the global market. From minivans suitable for the Japanese market to full-size SUVs to satisfy the U.S. market, Toyota's products cover almost all market segments. Whether it's a sedan, wagon, truck, van, or sports car, Toyota offers consumers a wide variety of choices.
Despite a slightly slow start in the electric vehicle segment, Toyota has managed to dominate the global market with its large lineup of fuel-efficient vehicles. In particular, performance cars like the GR86 and GR Supra, although positioned in a niche, have injected more vigor and personality into Toyota's brand image.
Compared to Toyota, the Volkswagen Group, despite having more sub-brands and a broader lineup of plug-in hybrids and electric vehicles, has never been able to catch up with Toyota, as sales in 2024 declined from the previous year. While the Volkswagen Group has invested heavily in EVs in recent years, it hasn't been enough to make up for its disadvantage in the traditional fuel-vehicle market.
As the global automotive market continues to change in 2024, Toyota expects to surpass 10 million units sold in the year, once again solidifying its position as an industry leader.
This not only demonstrates Toyota's deep roots in the global market, but also its comprehensive competitiveness in the fuel, electric and hybrid vehicle segments.
In the future, as consumer demand for EVs continues to grow, how Toyota further optimizes its EV strategy may become the key to maintaining its global dominance. In any case, Toyota is still the “leader” of the global automotive market.
Sources: Motor1
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