Toyota Regains Spot as World’s Largest Automaker

Toyota Regains Spot as World’s Largest Automaker
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After natural disasters wreaked havoc on production in 2011, Toyota has gained back its sales dominance, outselling both General Motors and the Volkswagen Group in 2012. 

Toyota, including its subsidiaries Hino Motors Ltd. and Daihatsu Motor Co., sold a record 9.75 million units in 2012, marking a 23 percent rise year-over-year. The Japanese companies two largest competitors, General Motors and Volkswagen Group sold 9.29 million units and 9.07 units respectively.

Toyota found sales growth in Europe, North America and Japan, while in China the company posted its first decline since 2002. In the States, Toyota managed to up its market share to 14.4 percent from 12.9 percent, according to the industry research outfit Autodata Corp. Overall, sales of Toyota, Lexus and Scion vehicles in the U.S. climbed 27 percent to 2.08 million units.

In 2013, Toyota is set to show off a redesigned Corolla, one of the brand’s best selling vehicles, which will take on edgier styling based on what we saw in the Furia Concept. The Japanese brand also recently announced a partnership with BMW to develop fuel-cell systems, lightweight materials and a midsize sports car.

SEE ALSO: Toyota to Share Fuel Cell Technology with BMW

Another factor helping Toyota is the Japanese Yen’s value is starting to come back down, thanks to new monetary policy put in place by Prime Minister Shinzo Abe, which is helping Toyota stay competitive in the global marketplace.

[Source: Automotive News]

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