Toyota Beats Volkswagen to Become World’s Top Car Seller for Two Years

[ad_1]

Japan’s Toyota Motor Corporation has announced that 2021 was a success after recording a rise of 10.1 percent in vehicles sale, making it the world’s biggest carmaker two years in a row, beating its closest challenger, Germany’s Volkswagen AG.

In 2020, Toyota sold 9.5 million vehicles around the world, overtaking Volkswagen’s 9.3 million.

Toyota, together with associates Daihatsu Motors and Hino Motors, made a record-breaking sale of 10.5 million vehicles last year.

On the other hand, Volkswagen sold 8.9 million cars, which is a five percent drop compared to its 2020 sales and also their lowest car sales made in the last decade.

Among the companies affected by the Coronavirus pandemic is the carmaking industry, which was forced to cut its output following delays in the supply of crucial electronic components such as semiconductors.

However, the Japanese motor companies were not adversely affected as much of the consumer electronic devices are produced locally.

Toyota will announce its third-quarter earnings on February 9 and has said that there is a likely failure of producing less than their nine million target vehicles before the end of their business year on March 31 due to the disruptions caused by the pandemic.

The post Toyota Beats Volkswagen to Become World’s Top Car Seller for Two Years appeared first on LitKenya.

[ad_2]

Source link