Toyota Motor retained its position as the world’s top-selling automaker in 2024 for the fifth consecutive year, despite a year-on-year decline in sales, according to data released on Thursday.
The Japanese automotive giant recorded global sales of 10,159,336 units in 2024, marking a 1.4 percent drop from the previous year. The decline was attributed to the fallout from a vehicle test fraud scandal and the temporary suspension of Prius hybrid production. Despite this setback, Toyota’s sales outpaced those of Germany’s Volkswagen Group, which sold 9.02 million vehicles.
Chinese electric vehicle manufacturer BYD outperformed Japanese rivals Honda Motor and Nissan Motor in global sales for the first time. BYD sold 4.27 million vehicles, surpassing Honda’s 3.8 million units and Nissan’s 3.34 million units.
Toyota’s domestic operations faced major challenges following revelations of fraudulent vehicle testing in June 2024, which led to the temporary suspension of Yaris Cross and two other models. Additionally, the production of the Prius hybrid was halted in April due to identified door defects. These issues contributed to a 13.8 percent decline in Toyota’s domestic sales, which fell to 1,441,842 units. Domestic production also dropped 7.2 percent to 3,128,351 units.
Overseas production fell 4.0 percent to 6,393,525 units, marking the first decline in four years as competition in China intensified. Despite these hurdles, Toyota maintained its dominance in the global automotive market, continuing to lead in overall vehicle sales.
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