Toyota beats Volkswagen to become world's top car seller in 2020

Published January 28, 2021
Toyota has weathered the pandemic better because Japan, and the Asian region in general, have been less affected by the outbreak. — AFP/File
Toyota has weathered the pandemic better because Japan, and the Asian region in general, have been less affected by the outbreak. — AFP/File

Japan’s Toyota Motor Corp overtook Germany’s Volkswagen in vehicle sales last year, regaining pole position as the world’s top selling automaker for the first time in five years as the pandemic demand slump hit its German rival harder.

Toyota said on Thursday its group-wide global sales fell 11.3 per cent to 9.528 million vehicles in 2020. That compared with a 15.2pc drop at Volkswagen to 9.305m vehicles.

Automakers have suffered as coronavirus lockdowns have stopped people from visiting car showrooms and forced manufacturing plants to reduce or halt production.

Toyota, however, has weathered the pandemic better in part because its home market Japan, and the Asian region in general, have been less affected by the outbreak than Europe and the United States.

“Our focus is not on what our ranking may be, but on serving our customers” a Toyota spokeswoman said.

As demand for cars rebounds, particularly in China, Toyota, Volkswagen and other manufacturers are scrambling to tap growing demand for electric cars. Toyota said that the ratio of electric vehicles it sold last year grew to 23pc of total sales from 20pc in 2019.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

By-election trends
Updated 23 Apr, 2024

By-election trends

Unless the culture of violence and rigging is rooted out, the credibility of the electoral process in Pakistan will continue to remain under a cloud.
Privatising PIA
23 Apr, 2024

Privatising PIA

FINANCE Minister Muhammad Aurangzeb’s reaffirmation that the process of disinvestment of the loss-making national...
Suffering in captivity
23 Apr, 2024

Suffering in captivity

YET another animal — a lioness — is critically ill at the Karachi Zoo. The feline, emaciated and barely able to...
Not without reform
Updated 22 Apr, 2024

Not without reform

The problem with us is that our ruling elite is still trying to find a way around the tough reforms that will hit their privileges.
Raisi’s visit
22 Apr, 2024

Raisi’s visit

IRANIAN President Ebrahim Raisi, who begins his three-day trip to Pakistan today, will be visiting the country ...
Janus-faced
22 Apr, 2024

Janus-faced

THE US has done it again. While officially insisting it is committed to a peaceful resolution to the...