Toyota Dethroned by Volkswagen in Global Sales Figures
Toyota Motors has been dethroned by Volkswagen last year for the first time to become the bestselling automaker of the world. The demand surge in China is major contributing factor which remained largely unaffected despite Volkswagen getting involved in diesel cheating scandal.
In 2016, 10.3 million vehicles were sold by Volkswagen, outpacing Toyota Motors with 3.8 percent gain as compared to last year. In 2016, global sales of Toyota along with its Daihatsu Motor units and Hino Motors increased to 10.2 million by 0.2 percent.
The surging demand in China along with the huge popularity of upscale Porsche and Audi brands lineups can be considered as the leading factors that boosted VW worldwide deliveries. But, the company lost its market share in Europe after news broke out in 2015 that diesel engines were manipulated by the company in order to pass emission tests.
In China, the deliveries rose by 12 percent and the country remains unaffected from the scandal as VW doesn’t sell any diesel vehicles in the country. In Europe, sales gained by 4 percent whereas crisis fallout affected demands in the US and recessions led to underperforming sales in South America and Russia. The sales of Toyota dropped mostly because of its performance in China and the US and also because of the waning demand of the Camry sedan in the US and expansion of sales in China moving at a slower rate than the overall market.
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