Toyota Motor Company once again emerged as the world's best-selling automaker in 2024, achieving global sales of 10.8 million vehicles. This marks the fifth consecutive year that Toyota has topped the global automotive industry.

Despite this achievement, total sales for the Toyota Group, which encompasses Daihatsu and Hino Motors, experienced a 3.7% decline compared to the previous year. This drop was primarily attributed to certification test issues in Japan, particularly affecting Daihatsu's performance.

Volkswagen Group, Toyota's main competitor, maintained second place with a 2.3% decrease in sales, totaling just over 9 million vehicles.

Toyota and Lexus, the main brands under the Toyota umbrella, saw a modest decline of 1.4% in overall sales. Nonetheless, the strong performance of hybrid vehicles played a crucial role in sustaining Toyota's market dominance. Hybrid sales reached a record high, accounting for 40.8% of the company's total sales.

In the competitive Chinese market, Toyota faced some challenges. However, robust hybrid vehicle sales helped the company maintain its leading position.

Despite a slight dip in overall sales, Toyota continues to lead the global automotive market, demonstrating its resilience and adaptability to evolving industry trends. With a growing emphasis on hybrid and fuel-efficient vehicles, Toyota remains at the forefront of the automotive sector.
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