Toyota Motor Corporation's global vehicle sales 2017-2024

Globally, Toyota sold around **** million vehicles between January and December 2024. The company's sales tally decreased by around *** percent between the 2023 and 2024 calendar years. 

Fierce competition

The company designs, manufactures, and sells motor vehicles under various brands, including the luxury marque Lexus. Toyota was the second most valuable automotive brand as of June 2024, outperforming other brands such as Mercedes-Benz, BMW, and Porsche. Toyota is one of the largest automakers in the world, based on calendar year sales figures. The car manufacturer's closest rival is Germany’s Volkswagen Group.

Go East

While Japan accounts for Toyota's largest revenue share, other Asian countries have emerged as the automaker's third largest markets in terms of revenue. Many automotive manufacturers were turning to the Chinese market to offset moderate sales figures in more saturated markets. Renault-Nissan-Mitsubishi, Volkswagen, and Toyota all have entered partnerships with automobile manufacturing joint ventures in China, although Toyota’s vehicle sales in the world’s largest automobile market fade in comparison to Volkswagen's deliveries. Between January and December 2021, Volkswagen and its Shanghai joint venture were the fourth leading passenger vehicle manufacturer in China, while Toyota continued to struggle. Toyota’s China woes aside, key figures for the Japanese company are shining bright, particularly in terms of sustainability.