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NEWS
Toyota lands in number one spot
Japanese company closes in on 10 million sales around the worldToyota is the largest selling automotive firm in the world for 2012.
According to a report published by AP, the Japanese giant sold at least 9.7 million vehicles last year, with the final score yet to be confirmed. As it stands, Toyota's sales so far place it roughly half a million ahead of closest rival, General Motors, on 9.29 million for 2012. That hands Toyota the lead for vehicle sales worldwide.
Toyota first became the world's best-selling automotive brand in 2008, with GM facing bankruptcy at the time. Prior to that GM had been the reigning champion for over seventy years. In 2011, after GM had emerged from its Chapter 11-enforced restructure, it was Toyota's turn to experience a major change in fortune. An undersea earthquake in March of that year was the catalyst for a tsunami that wiped out homes and businesses along the coast of Northern Japan.
Later in the same year, floods in Thailand – where the Australian-specification HiLux (pictured) is built – added to the company's woes.
For Toyota the impact of the two natural disasters was significant. Global production was unable to meet regional demand for much of the year, even in the case of cars that were built outside Japan and Thailand.
Now, however, the company has rebounded, experiencing 22 per cent growth in sales during 2012, with GM posting a 2.9 per cent increase for the same period. But Toyota's hold on the number one spot may not last as long as GM's unbroken run. Volkswagen sold 9.1 million vehicles around the world last year, just falling short of the number required to pass General Motors.
And the German company has committed to be the best selling brand in the world by 2018. While Toyota's 22 per cent growth was off a low base, thanks to tsunami and floods in 2011, Volkswagen recorded 11 per cent growth – a steady but impressive result and a sign that the company is on the march to achieve its 2018 target.
However, AP reports that the top three positions are unlikely to change in 2013, based on remarks from Jeff Schuster, senior vice president of forecasting for LMC Automotive, a Detroit-based industry forecasting firm. In the case of Toyota, Schuster sees the company remaining ahead in 2013 due to the latest generation Camry and the new Corolla, two volume-selling models that were urgently in need of updating.
"I think that's going to be enough to keep them in their position," Schuster told AP.
Volkswagen is unlikely to push GM out of second spot, according to Schuster, with sales continuing to decline in Europe where many economies remain weak. For its part, General Motors plans to refresh as much as 70 per cent of its line-up in North American markets, and that should deliver enough growth to stay ahead of Volkswagen, but not necessarily reel in Toyota.
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