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Toyota Regains Top Spot In Global Auto Sales

Japan’s Toyota Motor Corp overtook Germany’s Volkswagen in vehicle sales last year, regaining pole position as the world’s top-selling automaker for the first time in five years as the pandemic demand slump hit its German rival harder. /Xinhua

 

Japan’s Toyota Motor Corp overtook Germany’s Volkswagen in vehicle sales last year, regaining pole position as the world’s top-selling automaker for the first time in five years as the pandemic demand slump hit its German rival harder.

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Toyota said on Thursday its group-wide global sales fell 11.3 percent to 9.528 million vehicles in 2020. That compared with a 15.2 percent drop at Volkswagen to 9.305 million vehicles.

 

Automakers have suffered as coronavirus lockdowns have stopped people from visiting car showrooms and forced manufacturing plants to reduce or halt production.

 

Toyota, however, has weathered the pandemic better in part because its home market Japan, and the Asian region in general, have been less affected by the outbreak than Europe and the United States.

 

As demand for cars rebounds, particularly in China, Toyota, Volkswagen, and other manufacturers are scrambling to tap the growing demand for electric cars. Toyota said that the ratio of electric vehicles it sold last year grew to 23 percent of total sales from 20 percent in 2019.

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Written by PH

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