The automotive market is constantly evolving, with increasing interest in electric vehicles. Despite the popularity of companies like Tesla and BYD, Toyota has maintained its position as the top-selling brand for the fourth consecutive year.
What you should be aware of:
- Toyota has been the top-selling car manufacturer globally for the fourth year in a row.
- Just 1% of Toyota’s sales consist of electric vehicles.
Toyota has been at the forefront of the global market for the fourth consecutive year.
In the 2023 report, Toyota has globally sold more than 11 million vehicles, with popular models being Corolla, RAV4, Camry, and Yaris. While some brands are heavily investing in electric cars, Toyota lags in this area. Out of the 11 million cars sold, only 3.42 million are hybrids, utilizing both electric and traditional motors. Pure electric vehicles make up just 1% of sales, totaling 104 thousand cars.
Toyota, a leading Japanese automaker, is looking ahead to the future and plans to increase its investments in electric vehicles in the upcoming years. Despite being a top performer in 2022, the company saw a 7.2% rise in sales from the previous year and aims to sustain this growth moving forward.
Around 11.23 million out of the approximately 90 million cars sold globally in 2023 were Toyota vehicles, indicating that for every 8 cars sold, one was from Toyota.
Volkswagen is in the second position.
Volkswagen, a major car manufacturer, claimed the second spot in the rankings. Despite a 12% rise in sales, the company sold 9.2 million cars. It missed out on the top spot due to losing market share to BYD in China.
