Toyota moved 10.8 million vehicles last year, making it the world’s largest automaker for the fifth year running and edging out its nearest competitor, the Volkswagen Group. While those results include all of Toyota’s brands, including Lexus and Hino Trucks, the automaker held onto its crown despite a slip in 2024 sales.
That almost 11 million-unit sales number represents a 3.7-percent drop for Toyota last year. Volkswagen sold 9.03 million vehicles in 2024, down a smaller 2.3 percent. The German and Japanese automakers have traded positions at the top of the global sales rankings for years, but Toyota has held the number-one spot since 2020.
A large part of Toyota’s success comes from its hybrid sales. The company sold more than 4.2 million hybrids in 2024, a significant increase from 2023 and a giant leap over its EV sales last year, which reached almost 140,000 units. That said, Toyota moved nearly 40 percent more EVs in 2024 than the year before. Volkswagen, which sells a range of EVs, saw electric sales in China climb by 8 percent but tumble 30 percent in the United States.
While neither Toyota nor VW are likely worried about being overtaken by China’s BYD, which sold 4.3 million vehicles last year, its growth rate may be alarming. The automaker’s 2024 sales numbers were 41 percent higher than 2023’s, and a sizeable chunk – 1.8 million units – were electric.
[Images: Toyota, Volkswagen]
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