The Japanese automaker has reclaimed the title it lost five-years ago.
Ford might be the most-sold vehicle in the US but that’s only one model. Globalization has made the automotive industry more competitive. In 2020, the fight for the title of best-selling carmaker took a new turn. A utomotive News reports that Toyota has taken over the title of world’s most-sold brand, claiming it from VW Group. This position has been held for five years. A year many predicted would be a record-breaking year for automakers has been upended by the coronavirus pandemic. To slow down the spread of the virus, factories and dealerships were forced to close due to the emergence. Despite the fact that it affected both VW and Toyota more than others, this caused major losses for automakers, including VW, Audi, Porsche, and Toyota. Volkswagen Group sales, which includes Audi, Porsche and other automakers, dropped 15% to 9.31 Million cars sold. Toyota’s sales fell only by 11%. Despite the virus, 9.53 million vehicles were still sold by the Japanese automaker.
VW was slightly ahead of Toyota in 2019, with 10.97 million to 10.75 millions. The German conglomerate is expected again to be the top-selling automaker in 2021. It could prove to be a temporary success. Automotive News report states that IHS Markit research shows Toyota leading in global car sales at the decade’s halfway point. Global sales are expected to continue growing. Perhaps Toyota will continue to build on ‘s unexpected sales success – Supra which was the only Toyota model that saw sales rise in the US.
Both Toyota and VW Group have both announced plans to develop and produce new electric and hybrid vehicles. However, VW appears more ambitious than Toyota. The aggressive push by VW into electric vehicles has resulted in promising 75 fully electric vehicles by 2029. It also plans to sell 60 hybrids in addition to its EVs.