Toyota’s strong hybrid sales keep it on track to remain world’s top selling automaker
From Fortune:
Toyota maintains its title as the world’s top-selling automaker amid the debate over hybrid versus electric vehicles. Hybrids account for a significant portion of Toyota’s sales, with the company selling 3.1 million units in the year, a 30% increase. Although sales of battery electric vehicles are increasing, they still only represent about 1% of Toyota’s total sales.
In a global market where EV sales have been growing, the US is behind. Americans bought a million hybrid vehicles this year, a 76% increase from last year. Strong demand for Toyota’s hybrid vehicles in North America is attributed to the robust sales in that region. Toyota’s monthly report also noted an increase in sales in Europe and China.
Worldwide, Toyota had a strong month in November. Vehicle sales, including those of its subsidiaries Hino Motors and Daihatsu Motor, hit 986,262 units, a 12% rise year on year and a record for the month. Toyota’s sales figures are about 2 million more than its closest rival, the Volkswagen Group. This means Toyota is probably the world’s bestselling automaker for the fourth consecutive year.
Read more: Toyota’s strong hybrid sales keep it on track to remain world’s top selling automaker