Published 20:49 IST, January 30th 2025
Toyota Maintains Position as World's Top-Selling Automaker in 2024, Despite Sales Drop
Toyota’s parent-brand vehicles, including models under the Toyota and Lexus names, saw a 1.4 percent drop in sales, amounting to 10.2 million units

Toyota Motor Corporation has retained its position as the world’s top-selling automaker for the fifth consecutive year, with 10.8 million vehicles sold globally in 2024. However, the Japanese giant faced a 3.7 percent dip in total sales compared to the previous year, including figures from its subsidiaries Daihatsu and Hino Motors.
The decline in Toyota’s sales was primarily driven by a significant drop in Japan, where governance issues, particularly related to certification test procedures at Daihatsu, affected the company’s sales performance.
While Toyota remained the leader in global sales, rival Volkswagen Group reported a smaller 2.3% decline in 2024, with sales just over 9 million vehicles. The German automaker is currently navigating cost-cutting measures and a price competition war in key markets like China.
Toyota’s parent-brand vehicles, including models under the Toyota and Lexus names, saw a 1.4 percent drop in sales, amounting to 10.2 million units. A sharp drop in Japan, where sales fell by double digits, was the primary factor in this decline.
The company, however, found success in other regions, particularly the United States, where its hybrid offerings saw a surge in demand. Despite this, sales in China, the world’s largest car market, fell by 6.9 percent as Toyota contended with fierce price competition.
Within Toyota's sales, hybrids accounted for a record 40.8 percent of the total sales, while battery-electric vehicles (BEVs) made up a smaller share of 1.4 percent. These figures reflect Toyota's ongoing commitment to expanding its hybrid and electric vehicle portfolio, despite challenges in the global marketplace.
As Toyota continues to lead in overall sales, it faces growing competition from both established rivals and new entrants in the electric vehicle space. Industry analysts reckon that Toyota's ability to adapt to changing market dynamics and enhance its electric vehicle offerings will be crucial for maintaining its top position in the global automotive industry.
Updated 20:49 IST, January 30th 2025