/Japan’s Toyota overtakes Volkswagen as world’s biggest automaker

Japan’s Toyota overtakes Volkswagen as world’s biggest automaker

The Japanese firm has reclaimed its place because the world’s best-selling automaker, with its newest outcomes displaying an edge over Volkswagen Group (VLKAF).Toyota (TM) offered 9.5 million autos all over the world in 2020, in response to figures launched on Thursday that embrace its Daihatsu and Hino lineups. That is in contrast with the 9.three million models delivered final 12 months by Volkswagen, which owns manufacturers together with Audi, Skoda and Porsche.Whereas the rebound is nice information for Toyota, it doesn’t suggest the corporate is out of the woods. Over the previous 12 months, the coronavirus pandemic worn out gross sales and disrupted provide chains throughout the auto business. Toyota deliveries dropped 11.three% in 2020 in comparison with the earlier 12 months, whereas Volkswagen suffered a 15.2% slide.Now, carmakers are dealing with a crucial scarcity of semiconductors that threatens to hamstring manufacturing.In accordance with UBS analysts, Volkswagen might lose out on manufacturing of 100,000 models within the first three months of the 12 months, or roughly four% of worldwide quarterly output, because of the parts shortages.The largest carmakers are nonetheless getting cash, although.Volkswagen stated final week that income for 2020 topped $12 billion, pointing to a restoration within the second half of the 12 months. The corporate additionally pointed to a slight uptick in its share of the worldwide passenger market, in addition to an enormous leap in purchases of electrical automobiles and hybrids. Toyota has not but launched its full-year monetary outcomes for 2020. — Hanna Ziady contributed to this report.