Toyota sells 10.8 million vehicles in 2024 to remain world's top-selling automaker (updated)

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30/01/2025 04:53

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       TOKYO, Jan 30 (Reuters) - Toyota Motor  7203.T  sold
10.8 million vehicles in 2024, it said on Thursday, remaining
the world's top-selling automaker for a fifth straight year.
    The Japanese automaker posted a 3.7% drop in global group
unit sales last year, including those of compact car maker
Daihatsu and truck unit Hino Motors  7205.T . 
    The decline was largely due to a steep slump in sales in
Japan where the automaker faced fallout from governance issues
over certification test procedures, especially at Daihatsu.
    Second-ranked German rival Volkswagen Group  VOWG_p.DE 
earlier this month reported a 2.3% decline in unit sales last
year to just over 9 million vehicles, as it seeks to cut costs
at home and fight a price war in key market China.
    
    
    Sales of Toyota's parent-only vehicles, which include those
of its namesake and Lexus brands, fell 1.4% from a year earlier
in 2024 to 10.2 million vehicles due to a double-digit decline
in Japan. 
    While Toyota sold a record number of cars overall, thanks in
part due to demand for its hybrid vehicles in the United States,
it saw unit sales in China decline by 6.9% amid heavy price
competition in the world's top car market.
    Of its parent-only sales, gasoline-electric hybrids made up
a record 40.8%. Battery electric vehicles accounted for 1.4%.

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 (Reporting by Daniel Leussink; Editing by Lincoln Feast.)
 ((daniel.leussink@thomsonreuters.com; Twitter:
@danielleussink;))