Toyota wrapped up 2024 with global sales topping 10.8 million vehicles, spanning premium Lexus, compact Daihatsu, and robust Hino Motors. Despite a 3.7% dip from last year, this sales titan retained its crown as the world’s largest automaker for the fifth consecutive year—an impressive feat underscoring its diverse lineup and enduring market strength.
Volkswagen Group trailed with 9.03 million units sold—a 2.3% decline—while Hyundai Motor Group clinched third with 7.2 million vehicles, down 1%. Home market struggles hit Toyota hard in Japan, where sales plunged 19.7%, driven by certification issues at Daihatsu, according to Reuters. These challenges highlight competitive pressures even for industry leaders.
Excluding subsidiaries, Toyota and Lexus combined moved 10.2 million units, a 1.4% decrease. Hybrid models surged to a record 40.8% of total sales, while EVs held just 1.4%. With BYD selling 4.25 million vehicles last year and aggressively expanding its hybrid and electric portfolio globally, market share pressures are likely to intensify as rivals gain traction in the burgeoning EV sector.
