The World’s Largest Carmaker Is No Longer Toyota Motor Corp (ADR) (TM)

Advertisement

The world’s largest automaker is no longer Toyota Motor Corp (ADR) (NYSE:TM).

World's Largest AutomakerFor years, the company had carried the title of being the biggest car manufacturer in the world. Now, German giant Volkswagen has topped Toyota and taken over the title.

Based on the end-of-the-year 2016 numbers, Volkswagen sold more vehicles than its competitor, thanks in large part to its ability to sell a lot of vehicles in China. This comes at a time when VW CEO Matthias Muller said the company is no longer interested in using volume leadership one of its primary goals.

Previously, the company announced that it had hopes of reaching the figure of being the world’s largest automaker by 2018. Overall, VW sold 10.31 million vehicles around the world last year, marking a 3.8% increase year-over-year.

The figure was also higher than the 10.18 million that Toyota managed to sell over the 12 months, marking only a 0.2% surge compared to its previous figures. The company had held the title of being the world’s largest automaker for seven of the last eight years.

General Motors Company (NYSE:GM) had previously cemented its status as the world’s largest automaker for many years. In fact, the company had the title for decades before Toyota swooped in and grabbed it in 2008.

Toyota is still one of the most efficient manufacturers, while also holding strong margins.

More From InvestorPlace


Article printed from InvestorPlace Media, https://investorplace.com/2017/01/worlds-largest-carmaker-toyota/.

©2024 InvestorPlace Media, LLC