AssetID: 54474892
Headline: UNCAPTIONED: Toyota Remains World's Top-Selling Automaker Despite Sales Decline
Caption: Toyota Remains World’s Top-Selling Automaker Despite Sales Decline. Toyota sold 10.8 million vehicles in 2024, securing its position as the world’s top-selling automaker for the fifth consecutive year, Reuters Reports. The company reported a 3.7% drop in global group unit sales, including its subsidiaries Daihatsu and Hino Motors, with the decline largely driven by issues in Japan. Toyota faced a steep sales slump in Japan due to fallout from governance concerns related to certification test procedures, particularly affecting Daihatsu. Germany’s Volkswagen Group, Toyota’s closest competitor, reported a 2.3% decline in sales, delivering just over 9 million vehicles in 2024. Sales of Toyota’s main brand, including Lexus, fell 1.4% year-on-year to 10.2 million vehicles, impacted by double-digit declines in Japan. Toyota’s global record sales were supported by strong demand for hybrid vehicles, particularly in the United States. Toyota struggled in China, reporting a 6.9% decline in unit sales due to intense price competition in the world’s largest auto market. Gasoline-electric hybrids made up 40.8% of Toyota’s total sales in 2024, reflecting growing consumer demand for fuel-efficient alternatives. Despite industry-wide shifts toward electrification, Toyota’s battery electric vehicles accounted for only 1.4% of its total sales. While maintaining its leadership, Toyota must navigate price wars in China, governance challenges at home, and growing global competition in the EV sector. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Motoring,Toyota,Remains,World,Top,Selling,Automaker,Despite,Sales,Decline,Japan,Daihatsu,Hino Motors,Lexus,Volkswagen,Germany,German,Tech,Motor,Fifth,Consecutive Year,Company,Japanese
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