Toyota relinquishes top global sales spot to VW in 2016

Toyota production line [Photo credit: LinkedIn]
Toyota production line [Photo credit: LinkedIn]

Toyota Motor Corp’s (7203.T) four-year run as the world’s top-selling automaker has ended as the Japanese company said on Monday its global sales for 2016 fell short of Volkswagen AG’s (VOWG_p.DE).

Toyota said global sales across its Toyota, Lexus, Daihatsu minicar and Hino Motors Ltd ( 7205.T) truck brands rose 0.2 per cent to 10.18 million last year from 2015.

This was less than the 10.3 million sold by Volkswagen, which posted record high global sales despite its diesel emissions scandal.

Toyota’s overall global sales were supported by a 5.5 per cent rise in domestic sales for the Toyota brand following new launches for models including the Prius.

Meanwhile, overseas sales slipped 0.6 per cent as demand eased in North America, in and around the Middle East and Africa.

Toyota, which had been the world’s top-selling automaker on an annual basis since 2012, estimates global sales to increase to around 10.23 million vehicles in 2017.(Reuters/NAN)


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