Toyota Retains Crown as World’s Best-Selling Car Brand in 2024, Outpacing VW & Hyundai

For the fifth year in a row, Toyota has secured its spot as the world’s top car manufacturer. By November 2024, Toyota and its subsidiaries—Lexus, Daihatsu, and Hino—sold an impressive 9,857,938 vehicles globally, maintaining a significant lead over Volkswagen Group by 618,438 units.

Despite a 3.6% drop in sales compared to 2023, Toyota’s diverse lineup, ranging from compact kei cars to full-size SUVs, kept it ahead of the competition. While Toyota’s electric vehicle (EV) segment is still expanding, its hybrid and combustion-engine models continue to dominate global markets.

Toyota’s Best-Selling Models in 2024

Toyota’s success is driven by some of its most popular models:

• Toyota Corolla – A long-time global favorite, thanks to its affordability, reliability, and fuel efficiency.

• Toyota RAV4 – A top choice in the SUV segment, featuring hybrid powertrain options, versatility, and practicality.

Both models continue to lead sales charts in multiple regions, helping Toyota maintain its strong market presence.

Volkswagen Struggles to Keep Up

Volkswagen Group, Toyota’s closest competitor, faced a 2.3% decline in global sales, totaling 9,239,500 vehicles in 2024. Despite a wide range of brands and an increased push for plug-in hybrids and EVs, Volkswagen struggled to keep pace. Key challenges included:

• Leadership changes, including the resignation of Volkswagen of America’s CEO.

• Financial strain due to heavy investments in EV technology.

• Declining sales in China, a crucial market for the German automaker.

Hyundai Motor Group Holds Steady at Third Place

The Hyundai Motor Group—which includes Hyundai, Kia, and Genesis—maintained its third-place position, selling 7.23 million vehicles in 2024, marking a slight 1% decline from 2023. Hyundai’s growing EV lineup, featuring models like the Hyundai Ioniq 5 and Kia EV6, played a key role in its performance.

While Hyundai’s consistent growth is notable, the brand still trails Toyota due to stronger competition and market limitations.

Chinese Automakers Shake Up the EV Market

In the EV sector, BYD, a Chinese manufacturer, overtook Toyota in global EV sales. BYD’s aggressive push into electric vehicles, combined with its strong domestic market, helped it surpass both Toyota and Tesla. The rapid growth of Chinese automakers in the EV space is reshaping the global automotive industry, forcing traditional brands to accelerate their electrification strategies.

Why Toyota Continues to Lead

Toyota’s long-standing dominance in the global car market is attributed to several key factors:

• Diverse lineup – Toyota offers everything from small city cars to large SUVs and pickup trucks.

• Reliability and quality – The brand’s vehicles are known for their durability and low maintenance costs.

• Strong hybrid presence – Toyota’s hybrid models remain extremely popular, offering a balance between performance and fuel efficiency.

Despite slower progress in the EV sector, Toyota’s hybrid models continue to attract buyers, allowing the company to stay ahead of Volkswagen and Hyundai.

FAQs

1. Which is the best-selling car brand in 2024?
Toyota remains the world’s top car manufacturer, selling 9.85 million vehicles by November 2024.

2. What are the top three car brands globally?
The top three automakers in 2024 are Toyota, Volkswagen Group, and Hyundai Motor Group.

3. Which company leads in EV sales?
BYD has overtaken Toyota and Tesla as the top-selling EV brand in 2024.

4. What are Toyota’s most popular models?
The Toyota Corolla and Toyota RAV4 continue to be best-sellers due to their reliability, affordability, and hybrid options.

5. Why is Toyota still number one?
Toyota’s strong hybrid lineup, diverse vehicle range, and reputation for reliability help it maintain its global dominance.

Toyota’s reign as the best-selling car brand in 2024 highlights its ability to adapt to changing market demands while maintaining strong customer trust. With ongoing developments in hybrid and EV technology, the brand is set to continue its leadership in the global automotive industry.