Toyota became the world's best-selling car brand for the fifth consecutive year
Toyota Motor Corporation is once again the world's best-selling automotive brand in 2024, despite global economic uncertainty, supply chain challenges and changing consumer demand.
Here's What We Know
The Toyota Group, which includes the Lexus, Daihatsu and Hino brands, sold 10,821,480 vehicles worldwide, marking the fifth consecutive year that the company led the global market. In the first 11 months of 2024, it sold 9,857,938 vehicles, down 3.7 per cent from the previous year but still a strong result.
Toyota's main competitor, Volkswagen Group, sold 9,239,500 cars, down 2.3 per cent from the previous year and the gap was 618,438 cars.
Experts attribute Toyota's success to its wide range of vehicles, from compacts to large SUVs, which allows the company to meet the needs of customers around the world. Despite the automotive industry's shift to electric vehicles, Toyota continues to offer popular internal combustion engine vehicles, which helps the company remain competitive in the global market.
Hyundai Motor Group, which includes Hyundai, Kia and Genesis, ranked third in global sales with about 7.23 million vehicles, down 1 per cent from the previous year.
Source: gizchina
