Toyota sold 10.8 million vehicles in 2024, remaining the world’s top-selling automaker for the fifth consecutive year. However, sales in China dropped by 6.9%, and global sales fell by 3.7%, mainly due to challenges in Japan.
Toyota Motor announced on Thursday that it sold 10.8 million vehicles in 2024, maintaining its position as the world’s top-selling automaker for the fifth consecutive year.
Despite achieving record global sales, the Japanese manufacturer reported a 6.9% decline in car sales in China, driven by intense price competition in the world’s largest automotive market. Additionally, Toyota’s global sales fell by 3.7% overall, largely due to a sharp drop in Japan. This decline was attributed to management issues related to certification procedures, particularly within its subsidiary, Daihatsu.
The company’s success in global markets, particularly in the U.S. with strong demand for its hybrid vehicles, helped offset some of the challenges faced in key regions like China and Japan.
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Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
Japanese automaker Toyota announced on Wednesday that it will manufacture its new battery electric vehicle (BEV) at its plant in Kolín, Czechia — the company’s first all-electric model to be produced in Europe.
Toyota has signed a $2 billion deal to build a wholly-owned electric vehicle plant in Shanghai, as the Japanese automaker strengthens its position in China’s growing EV market during heightened US-China trade tensions.
An explosion at Chuo Spring Co.'s plant in Toyota, Japan, has resulted in one death and two injuries, officials reported on Thursday.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
A powerful 7.5 magnitude earthquake has struck off Japan’s north-eastern coast, triggering urgent tsunami warnings with waves of up to 3 metres expected, prompting residents to seek immediate safety.
Blue Origin, the U.S. space company of billionaire Amazon founder Jeff Bezos, successfully reused and recovered a booster for its New Glenn rocket launched from Florida on Sunday (19 April), in the latest chapter of its intensifying rivalry with Elon Musk’s SpaceX.
China's domestic automakers have a message for the boardrooms of premium German brands such as Porsche, Mercedes-Benz, and BMW: We are coming for your customers, and we are armed with superior technology at a fraction of the cost.
Tim Cook, the tech boss who led Apple to become a $4 trillion company in its post-Steve Jobs era, is stepping down after 15 years in the top job. John Ternus, an Apple veteran of 25 years, who is currently the U.S. company’s Vice President of Hardware Engineering, will take over from September.
Netflix shares fell sharply on Friday after the streaming group issued a weaker-than-expected outlook and said chairman and co-founder Reed Hastings will step down from the board.
The Middle East crisis is reshaping transport choices worldwide, turning electric vehicles from a long-term climate goal into an immediate economic calculation.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
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