Toyota remains the global leader in automotive sales for the fifth straight year, outperforming rivals despite a challenging 2024. The Japanese automaker, including its luxury brand Lexus, reported total sales of 10.16 million vehicles last year. When combined with subsidiaries Daihatsu and Hino, the figure rises to 10.82 million units. Though this marks a 3.7% drop from 2023, Toyota’s lead over second-place Volkswagen-which sold 9.03 million units-remains solid.
Domestic Challenges Offset by Global Resilience
Toyota faced headwinds in its home market, Japan, where a certification test scandal disrupted production. Halts for models like the Prius led to a 19.7% slump in domestic sales. Sales for Toyota and Lexus in Japan fell by 13.8%, reflecting weakened consumer trust. However, international markets softened the blow. North America saw sales rise by 4.3% to 2.73 million units, while Europe grew by 3.6% to 1.17 million units. Hybrid vehicles, a Toyota stronghold, drove much of this growth.
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Hybrids Dominate, BEVs Lag
Electrified vehicles made up nearly 41% of Toyota’s global sales in 2024. Self-charging hybrids led the charge with 4.14 million units sold, followed by plug-in hybrids (153,829) and battery electric vehicles (139,892). Despite a 23.2% jump in electrified sales overall, BEVs remain a small slice of Toyota’s portfolio at just 1.4%. The company continues to lean on hybrids as it navigates the shift to full electrification.
Asia’s Mixed Results
Asia-Pacific sales dipped by 3.1%, with China-Toyota’s second-largest market-posting a 6.9% decline. Aggressive pricing from local brands like BYD and NIO intensified competition. Still, Toyota’s global strategy balanced regional weaknesses. Models like the RAV4 SUV and Corolla sedan likely retained their status as top sellers, though the automaker hasn’t released specific figures.
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