Toyota Retains Global Sales Lead in 2024 Despite Declining Domestic Performance

The automaker sold 10.8 million vehicles worldwide, but EV sales remain a small fraction of its total as competitors gain ground.

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.