The Japanese company has regained its place as the world’s best-selling automaker, with its latest products showing an edge over Volkswagen Group (VLKAF).
Toyota (TM) sales of 9.5 million vehicles worldwide in 2020, according to figures released Thursday that include its lineups Daihatsu and Hino. That compares with the 9.3 million units delivered last year by Volkswagen, which owns brands such as Audi, Skoda and Porsche.
While the rebound is good news for Toyota, that doesn’t mean the company is out of the woods. Over the past year, the pandemic coronavirus has wiped out sales and disrupted supply chains throughout the automotive industry.
Toyota’s delivery fell 11.3% in 2020 compared to the previous year, while Volkswagen suffered a 15.2% slip.
Now, car manufacturers are facing an acute shortage of semiconductors that threaten hamstring production.
According to UBS analysts, Volkswagen could miss out on 100,000 unit production in the first three months of the year, or about 4% of global quarterly output, due to a shortage of components.
Most carmakers are still making money, though.
Volkswagen said last week that profits for 2020 exceeded $ 12 billion, indicating they were improving in the second half of the year.
The company also said there was a small increase in their share of the global passenger market, as well as a big jump in the purchase of electric and hybrid cars.
Toyota has yet to release their full-year financial results for 2020.
– Hanna Ziady contributed to this report.
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