But in 2024, the crown for best-selling vehicle went to the Tesla Model Y over the Toyota Corolla
- Toyota is the world’s top-selling automaker for its fifth year, ahead of Volkswagen, BYD, and Honda
- But it can’t also boast the world’s best-selling vehicle — that one goes to Tesla
- In total Canadian sales in 2024, Toyota ranked third behind General Motors and Ford
Volkswagen had a 2.3% decline in 2023 and reported that it intends to cut its costs, as well as get through a price war in China, a key market for it. Toyota also saw a 6.9% decline specifically in China in the face of price competition, but was buoyed by rising demand for hybrid vehicles in the United States. Within its Toyota and Lexus brands, hybrids (including plug-in hybrids, or PHEVs) accounted for 40.8% of sales, but only 1.4% of total sales were battery-electric.
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