Toyota, the well-known Japanese automobile giant, has a reason to celebrate at the beginning of 2025 as it continues to be the world's largest car manufacturer. This is the fifth consecutive year that the brand has taken the top spot by leaving the other giants behind like the Volkswagen Group.
To come at the top Toyota and Lexus recorded a combined sales of 10,159,336 cars in 2024. This is a massive number but reflects a decline of 1.4 percent when compared to the sales in 2023. If the numbers of Daihatsu and Hino subsidiaries are included the total comes out to be 10,821,480 which translates to a decline of 3.7 per cent when compared to 2023.
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Volkswagen Group of Germany remains the second largest automobile manufacturer worldwide. In 2024, the German company achieved sales of more than 9 million vehicles on a global scale. The Volkswagen Group encompasses various brands such as Skoda, Volkswagen, SEAT, CUPRA, as well as luxury makers like Audi, Lamborghini, Bentley, Porsche, and Ducati. However, the group's sales faced a decline of 2.3 percent last year relative to 2023, largely due to reduced sales in China, where the company encountered price competition from competitors.
The dip in Toyota's sales is because of a decline in markets like Japan, China, and other global markets. Breaking down the sales, Toyota dispatches last year were dominated by internal combustion engine (ICE) vehicles. Along with this, the brand got good numbers from the sales of petrol-electric hybrid cars. Specifically, 40 percent of the brand's total global sales was contributed by hybrid vehicles. Meanwhile, EV contributed with dispatches of 1.5 per cent. Additionally, even after being at the top of the sales chain, Toyota is the second most valuable carmaker globally.
Toyota Motor wrapped up 2024 as its strongest year in India, having dispatched over 326,000 units. The Japanese automobile manufacturer experienced a 40 percent growth in sales in comparison to 2023. Of the total units sold, just over 300,000 were delivered within India, while 26,232 units were exported to various international markets.