Toyota Named World’s Best-Selling Car Brand In 2024: Beats VW & Hyundai

Toyota has secured its position as the world’s top car manufacturer in 2024. By November, Toyota and its subsidiaries—Lexus, Daihatsu, and Hino—sold 9,857,938 vehicles globally. Even without December figures, Toyota leads Volkswagen Group by 618,438 units. This marks the fifth year in a row that Toyota has been the largest automaker worldwide.

Toyota achieved this despite a 3.6% drop in sales from January to November compared to 2023. The brand’s broad range of vehicles—from compact kei cars to full-size SUVs—helped it stay ahead. While its electric vehicle (EV) program is still growing, Toyota’s hybrid and combustion-engine vehicles remain highly competitive.

Popular models like the Toyota Corolla and RAV4 continued to perform strongly in global markets. The Corolla remains a best-seller due to its affordability and reliability, while the RAV4’s popularity is driven by its versatility and strong hybrid options.

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In the EV market, BYD, a Chinese automaker, outperformed Toyota in 2024. BYD’s success highlights the rising power of Chinese automakers in the EV space. The rapid adoption of EVs in China and Europe also contributed to its growth. BYD’s competitive pricing, wide range of EV models, and strong position in its home market helped it surpass global giants like Toyota and Tesla.

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Volkswagen Group, Toyota’s closest rival, struggled to keep pace in 2024. The company’s global sales declined by 2.3%, totalling 9,239,500 vehicles. Although it offers a vast range of brands and plug-in hybrids, Volkswagen couldn’t match Toyota’s sales figures.

Models like the Volkswagen Tiguan and ID.4 saw moderate success, but they were not enough to offset declines elsewhere. The Tiguan remains a key player in VW’s lineup due to its global appeal, while the ID.4 highlights Volkswagen’s push into the EV segment.

Leadership changes added to Volkswagen’s challenges. Volkswagen of America’s CEO, Pablo Di Si, resigned after two years. Heavy investments in electrification led to financial strain, while traditional models lost focus. Volkswagen’s EVs lacked a standout hit, and high costs forced the company to close some production plants in Germany. Despite these setbacks, Volkswagen remained a major player, though its performance in China was a concern.

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The Hyundai Motor Group—including Hyundai, Kia, and Genesis—ranked third with 7.23 million vehicles sold in 2024. This was a slight 1% decline compared to 2023. Hyundai’s growing EV lineup, including Ioniq and Kia models, contributed to its performance.

Notable models like the Hyundai Tucson and Kia EV6 performed well in sales. The Tucson’s combination of modern design and reliability made it a strong choice, while the EV6 stood out in the EV market for its innovative features and competitive pricing.

The Hyundai Motor Group—including Hyundai, Kia, and Genesis—ranked third with 7.23 million vehicles sold in 2024. This was a slight 1% decline compared to 2023. Hyundai’s growing EV lineup, including Ioniq and Kia models, contributed to its performance. However, production challenges and competition from Toyota limited its growth.

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China’s massive automotive market played a key role in 2024. Toyota sold 1,588,835 vehicles there by November, a 7.7% decline from the previous year. Despite strong promotional strategies and government subsidies, competition was intense.

Volkswagen’s Chinese sales fell by 9.5%, totalling 2,928,100 vehicles. China accounts for over 30% of Volkswagen’s global sales, making the drop particularly significant. Local brands like BYD gained ground, even outpacing Tesla in Q4 2024. These trends underline the growing strength of Chinese automakers.

Toyota’s dominance comes from its reliable, high-quality vehicles that meet diverse customer needs. While its EV rollout is slower than competitors, Toyota’s hybrids and traditional engines remain popular.

Volkswagen and Hyundai both face challenges in maintaining their competitive edge. Volkswagen’s internal issues and declining Chinese market share highlight the need for stability. Hyundai’s consistent performance shows promise, but it still lags behind Toyota in global reach.

As 2024 ends, Toyota remains the leader in the automotive industry. Its ability to navigate challenges and seize opportunities ensures its top position. Meanwhile, competitors like Volkswagen, Hyundai, and BYD are reshaping the landscape, keeping the industry dynamic and competitive.

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Toyota, selling 9.85 million vehicles by November 2024, remains the world’s best-selling automaker for the fifth consecutive year.

The top three automakers in 2024 are Toyota, Volkswagen Group, and Hyundai Motor Group, maintaining their dominance in global car sales.

BYD is the best-selling EV brand in 2024, surpassing Toyota and Tesla due to its strong domestic market and diverse electric vehicle lineup.

The Toyota Corolla and RAV4 are popular models, known for their affordability, reliability, and hybrid options, appealing to a broad global audience.

The Toyota Corolla is the best-selling Toyota car globally, celebrated for its practicality and consistent performance across diverse markets.

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