unobet Toyota ranks top in global auto sales for 5th year
Tokyo Toyota Motor Corp. took the top spot in global vehicle sales for the fifth straight year in 2024 although its sales fell year on year, data showed Thursday. The leading Japanese automakers global vehicle sales dipped 1.4 pct in 2024 from the p...
Tokyo — Toyota Motor Corp. took the top spot in global vehicle sales for the fifth straight year in 2024 although its sales fell year on year, data showed Thursday.
The leading Japanese automaker’s global vehicle sales dipped 1.4 pct in 2024 from the previous year to 10,159,336 units, due to the fallout of a test fraud scandal and a pause in the production of its Prius hybrid.
Still, the figure surpassed 9.02 million units sold by Germany’s Volkswagen Group.
Article continues after this advertisementAmong other Japanese automakers, Honda Motor Co. and Nissan Motor Co. saw their global sales fall below those of Chinese electric vehicle giant BYD Co. for the first time. Honda and Nissan sold 3.8 million units and 3.34 million units, respectively, last year, compared with BYD’s 4.27 million units.
FEATURED STORIES BUSINESS BIZ BUZZ: Ayala in talks to buy back valuable AIM property BUSINESS Gokongweis exit loss-making petrochemical business BUSINESS Possible gray list exit, sustainability, and economic trendsToyota suspended the production of the Yaris Cross subcompact and two other models temporarily after the vehicle test fraud came to light in June last year. The production of the Prius was halted temporarily after door defects were found in April the same year.
As a result, Toyota saw its domestic vehicle sales plunge 13.8 percent to 1,441,842 units as its domestic production dropped 7.2 percent to 3,128,351 units because of those problems. Its overseas vehicle production fell 4.0 percent to 6,393,525 units, the first decline in four years amid intensifying competition in China.
Article continues after this advertisementStill, Toyota’s overseas sales rose 1.0 percent to a record high of 8,717,494 units thanks to strong hybrid demand in North America and Europe, expanding for the fourth consecutive year.
Article continues after this advertisementGlobal sales of BYD rose more than 40 percent thanks to low prices of its vehicles, while those of Honda and Nissan fell 4.6 percent and 0.8 pct, respectively, mainly due to stiff competition in the Chinese market.
Article continues after this advertisementMeanwhile, data also showed Thursday that combined vehicle production in Japan in 2024 by eight major domestic automakers declined 8.7 percent t 7.83 million units, down for the first time in two years.
All apart from Suzuki Motor Corp. saw their domestic production drop. Daihatsu Motor Co.’s production plunged 36.8 percent, as the company temporarily suspended output at all domestic plants due to its safety test fraud scandal.
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