Toyota retains world's largest automaker title for fifth consecutive year
What's the story
Toyota has once again reclaimed its title as the world's largest automaker in 2024, marking its fifth consecutive year at the top.
The Japanese car manufacturer sold a staggering 9,857,938 vehicles worldwide through November 2024. This includes sales from its subsidiaries Lexus, Daihatsu, and Hino.
Despite a slight dip of 3.6% in sales compared to the same period in 2023, Toyota managed to outperform its competitors.
Rival performance
Toyota outpaces Volkswagen Group in global sales
The Volkswagen Group, another automotive giant, saw a 2.3% decline in its overall sales for 2024.
The German brand sold 9,239,500 cars and trucks last year.
Even with this number, Toyota had a massive lead of 618,438 vehicles over the VW Group even before factoring in its December sales.
The performance highlights Toyota's continued reign as the world's largest automaker for five years straight.
Product portfolio
Toyota's diverse range contributes to global reach
Toyota's massive portfolio of combustion-engine cars has contributed heavily to its global presence.
The company has something for everyone, from compact kei cars for Japanese customers to full-size SUVs for Americans.
Its lineup includes sedans, wagons, trucks, minivans, and even some performance cars such as the GR86 and GR Supra.
This variety has kept Toyota on top as the world's largest automaker.
Third place
Hyundai Motor Group trails behind in global sales
The Hyundai Motor Group, which includes the parent brand Hyundai, along with Kia and Genesis, is projected to take the third position in global sales.
The group sold 7.23 million vehicles in 2024, a minor 1% decline from the last year.
Despite this small hiccup, Hyundai remains a major player in the global automotive industry.