Toyota overtakes VW as world’s largest auto company

Toyota overtakes VW as world’s largest auto company

The extent of the automaker's sales losses was largely determined by their level of exposure to the regions most disrupted by the virus. Turns out that plan wasn't ambitious enough, as VW took top spot in 2016, two years ahead of schedule. Toyota sold 9.5M vehicles around the world past year.

The Japanese automaker said Thursday it delivered 9.528 million vehicles in 2020, down about 11.3% on the year before.

Trade body the ACEA described the European Union sales decline to less than 10 million vehicles as "unprecedented", reports Automotive News. North America is the primary market for the SUV, but RAV4 sales shot up 37.9% year-on-year in China to 175,000 units. The company also points to a strong end to 2020 - in December, global sales were up 10.3% year-on-year, the fourth consecutive monthly increase. In Japan, Toyota built 2.92 million cars, including Lexus models, a 14.4% drop. While North America is the Suv's primary market, the auto sales increased by 37.9 percent in China.

Toyota did brisk business in the USA and China.

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It is the first time in five years that Toyota emerged as the world's biggest vehicle company.

VW's push to produce extra electrified autos ought to lead to a gross sales spike this 12 months, however extended lockdowns and dealership showroom closures in its home market will proceed to have an antagonistic influence, analyst Yoshiaki Kawano mentioned.

Back in 2008, Toyota accomplished what many had considered an impossible feat: it sold more vehicles around the world than American behemoth General Motors (GM).

As demand for cars rebounds, particularly in China, Toyota, Volkswagen and other manufacturers are scrambling to tap growing demand for electric cars.

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