Toyota Motor sold 10.8 million vehicles in 2024, maintaining its position as the world’s top-selling automaker for the fifth consecutive year, the company announced Thursday.
The Japanese automaker’s global group sales, including those of Daihatsu and Hino Motors, fell 3.7% from the previous year.
The decline was mainly driven by a sharp drop in sales in Japan, where Toyota faced fallout from governance issues over certification test procedures, particularly at Daihatsu. Meanwhile, the second-ranked Volkswagen Group reported a 2.3% decrease in unit sales to just over 9 million vehicles, citing cost-cutting efforts and price competition in China.
Toyota’s parent-only sales, covering its Toyota and Lexus brands, declined 1.4% year-on-year to 10.2 million vehicles, impacted by a double-digit drop in Japan. Despite overall record sales, unit sales in China fell 6.9% due to intense price competition in the world’s largest auto market.
Hybrid vehicles accounted for a record 40.8% of Toyota’s parent-only sales, reflecting strong demand in the United States. Battery electric vehicles made up 1.4% of total sales.
