Toyota Becomes Top Selling Automobile Company in The World

Toyota, among the global automobile companies, has sold the highest number of vehicles in the world last year. Despite the increase in popularity of Electric Vehicles (EV) in the last few years, companies making cars with petrol and diesel engines continue to dominate the automobile market.

Last year Toyota sold approximately 1.12 crore vehicles. This is the fourth consecutive year when this Japanese company has sold the highest number of vehicles in the world. The company reported for last year that its best-selling models included the Corolla, RAV4, Camry and Yaris. However, the share of EV in the company's total sales remained less than one percent.

Germany's Volkswagen has secured second position in the international market of automobiles with sales of approximately 92 lakh vehicles. Last year, Toyota achieved an important milestone. The company had crossed the total manufacturing mark of 30 crore vehicles almost 88 years after manufacturing its first vehicle, Model G1 truck. These include vehicles manufactured in the company's factories in Japan and other countries. Of these, more than 18 crore units have been manufactured by the company in its factories located in Japan and many other countries. Among these, Corolla has the maximum units of more than 53 crores. This sedan was first launched in 1966 and has undergone many changes since then. It is among the most popular cars worldwide. However, challenges have increased for Toyota over the past few years, including electric vehicles (EV).

The company plans to set up its third plant in India in Karnataka. With this, Toyota's production capacity can increase by one lakh units. The company had said that it will invest about Rs 3,300 crore in this plant to be built in Bidadi, Karnataka. This plant will provide employment to about 2,000 people. It has two plants in the country with a capacity of about 3.42 lakh units per year. The country's market is very important for Toyota. The new plant will also help the company increase its sales in the country.