Toyota Reclaims the Title of World’s Largest Automaker

Toyota has gained back its sales dominance, outselling both General Motors and the Volkswagen Group in 2012 even after natural disasters wreaked havoc on production in 2011. Toyota along with its subsidiaries Hino Motors Ltd. and Daihatsu Motor Co., sold a record 9.75 million units in 202, marking a 23 percent rise year-over-year. Toyota’s two largest competitors, General Motors and Volkswagen Group respectively sold 9.29 million units and 9.07 units.

toyota logoEurope, North American and Japan have all grown in sales for Toyota, while in China, the company posted its first decline since 2002. According to the industry research outfit Autodata Corp, Toyota managed to up its market share to 14.4 percent from 12.9 percent in the U.S. In the U.S. overall, sales of Toyota, Lexus, and Scion vehicles climbed 27 percent to 2.08 million units.

Scheduled some time in 2013, Toyota is set to show off a redesigned Corolla, one of the brand’s best selling vehicles, which will take on edgier styling based on what we saw in the Furia Concept. In addition, Toyota recently announced a partnership with BMW to develop fuel-cell systems, lightweight material and a midsize sports car. Thanks to new monetary policy put in place by Prime Minister Shinzo Abe, another factor helping Toyota is the Japanese Yen’s value is starting to come back down, and this is what is helping Toyota stay competitive in the global marketplace.

Image courtesy of forwardstl