Toyota Becomes Top Selling Automobile Company in The World

Toyota, one of the global automobile companies, sold the most vehicles in the world last year. Despite the growing popularity of electric vehicles (EV) in the last few years, companies manufacturing cars with petrol and diesel engines continue to dominate the automobile market.

Toyota sold about 11.2 million vehicles last year. This is the fourth consecutive year that the Japanese company has sold the most vehicles in the world. The company’s report for last year shows that its best-selling models included Corolla, RAV4, Camry and Yaris. However, EVs accounted for just under one percent of the company’s total sales.

Germany’s Volkswagen has secured the second position in the international market of automobiles with sales of around 92 lakh vehicles last year. Toyota had achieved an important milestone. The company crossed the total manufacturing mark of 30 crore vehicles about 88 years after the manufacturing of its first vehicle Model G1 truck. This includes vehicles manufactured in the company’s factories in Japan and other countries. Of these, the company has manufactured more than 18 crore units in its factories in Japan and many other countries. Among these, Corolla has the highest number of units, more than 53 crore. This sedan was first launched in 1966 and has undergone many changes since then. It is among the most popular cars worldwide. However, challenges have increased for Toyota in the last few years, including electric vehicles (EV).

The company has planned to set up its third plant in India in Karnataka. This can increase Toyota’s production capacity by one lakh units. Company Toyota had said that it will invest about Rs 3,300 crore in this plant to be built in Bidadi, Karnataka. This plant will provide employment to about 2,000 people. It has two plants in the country with a capacity of about 3.42 lakh units per year. The country’s market is very important for Toyota. The new plant will also help the company to increase its sales in the country.