Toyota Remains the World’s Top-Selling Automaker for the 5th Straight Year
According to a report by Reuters, Toyota is the top-selling automaker for 2024, selling 10.8 vehicles worldwide and retains its top spot for the fifth straight year.
Its closest rival Volkswagen topped out at a little over 9 million sold in the year with Hyundai-Kia taking 3rd place.
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 (Toyota and Lexus), gasoline-electric hybrids made up a record 40.8%. Battery electric vehicles accounted for 1.4%.
According to data.gov.my total car registrations in Malaysia for Toyotas is 127,202 as of 31 December, which makes it third overall in Malaysia. This figure does not include the registration of its Lexus models.
The number 1 spot in Malaysia is taken by Perodua at 358,100. For context, that’s about 3.5% of the sales of cars that Toyota achieved globally.
Toyota’s biggest existential threat (and the world seemingly) is BYD, and they achieved about 4.2 million cars sold in 2024 with 41% of that being EVs.
