Toyota Motor Corp has defeated Volkswagen in holding the top spot as the global leader in vehicle sales after giving neck-and-neck fight.
The automaker on Wednesday announced the relative growth of strong global sales of 3.8 percent in the first six months of the current fiscal to 5.097 million vehicles. This is a record first-half result for Toyota.
With the development, Toyota continued to reign at the top spot in the automobile sector for two years in a row.
The accolade came to Toyota following a rapid expansion drive launched by the company in China, which is the biggest auto market in the world.
Yoshiaki Kawano, a Tokyo-based analyst at IHS Automotive, says, “China is the driving force of the global market, and the degree to which a company is focused on that region is linked to the global sales performance.”
The Toyota’s fortunes also shone following strong sales in the market of United States, China and Europe.
The Toyota sales figures exceeded the forecast of 4.83 million by IHS.
Meanwhile, analysts say its competitor Volkswagen is also growing faster. They say VW’s half-year total could give a tough fight to the Japanese auto giant.
4.97 million vehicles were sold by Volkswagen between January and June this. This was up 5.9 percent from the same period in 2013
Latest posts by Christina Langfold (see all)
- Wild Salamanders Are Highly Threatened By An Invasive Fungus - Apr 22, 2017
- Texas Registers Highest Number Of Mumps Cases In 20 Years - Apr 15, 2017
- The Mars Base Camp Is Lockheed’s Idea For A Space Future - Apr 5, 2017