Overview

• Toyota remained the world's top-selling automaker for the fifth consecutive year, with 10.8 million vehicles sold in 2024, a 3.7% decline from the previous year.
• The drop in sales was driven by a steep 20% decline in Japan, partly due to safety scandals involving incorrect vehicle certifications and Daihatsu's rigged collision tests.
• Electric vehicles accounted for only 1.4% of Toyota's total sales, far behind competitors like BYD and Hyundai, which are aggressively expanding their EV offerings.
• Volkswagen retained its position as the second-largest automaker globally, selling just over 9 million vehicles, while BYD and Hyundai continued to close the gap with strong EV growth.
• Toyota’s reliance on hybrid vehicles, which reached a record 40% of its sales, highlights its slower transition to fully electric models compared to industry leaders.