In 2020, Toyota’s global sales figure stood at 9.5 million units, whereas Volkswagen recorded an international sales figure of over 9.3 million
Japanese car giant Toyota Motor Corporation is once again the largest carmaker in the world, in terms of sales figures. In 2020, the company managed to register a global sales figure of 9.538 million, which is an 11.3 per cent sales decline compared to 2019. The company had lost this crown to German car major Volkswagen five years ago.
Volkswagen’s global sales figure in 2020 were reported to be 9.302 million units, which translates to 15.2 per cent sales drop compared to 2019. Last year was a tough time for not just the automobile industry, but for all other industrial sectors. Almost every country around the world was in lockdown mode, which majorly impacted sales.
However, by the end of 2020, there was a major recovery in most international market in terms of car sales. Toyota’s subsidiaries – Lexus, Hino, Ranz, and Daihatsu – also played a major role in the Japanese car major’s bounce back to the top position in global sales charts.
However, Tesla still remains the world’s most valuable car company, a title it snatched from Toyota last year. The American EV manufacturer is currently enjoying strong demand in markets like the US and Europe. Toyota is planning to introduce battery-powered vehicles very soon, expectedly in the next two years, which will help the company regain lost ground, mainly in the European markets.
Toyota has stated that 23 per cent of its global sales consisted of electrified vehicles (hybrid and plug-in hybrid cars). According to analysts, this number is expected to grow substantially in the near future, as emission standards keep getting tougher in major markets all around the world.
There is one clincher in the plan though – international shortage of microchips. Earlier this month, Toyota had to temporarily shut production down at its factory in Guangzhou, China, and four production lines in three plants in Aichi, Japan. The manufacturer also had to limit production of the Tundra full-size pickup truck at its facility in Texas, US. The microchip shortage spells disaster for the automobile industry, and the effects of this may even continue into late-2021.