World’s Largest Automaker in 2019

Volkswagen has maintained its lead as the world's largest automaker after Toyota’s announcement about selling fewer cars last year.

Toyota Motor Corp said on Thursday that it sold 10.74 million vehicles worldwide in 2019, lagging behind Volkswagen AG's record annual sales of 10.97 million cars. In 2018, Volkswagen sold 10.83 million vehicles, displacing Toyota from the top spot.

World’s Largest Automaker in 2019 photo 2

Toyota reported that 2019 was the fourth year of growth in global car sales. This marked an increase of 1.4% compared to the previous year.

It is worth noting that General Motors Co. held the title of best automaker for more than seven decades before losing to Toyota in 2008.

The Nissan-Renault-Mitsubishi Alliance also dropped out of the leadership positions. Global sales of Nissan Motor Co., Renault SA and Mitsubishi Motors Corp. totaled about 10 million cars last year.

The alliance’s sales suffered after Nissan CEO and Chairman Carlos Ghosn had been arrested in November 2018. He is now facing various charges of financial irregularities in Japan.

Ghosn says he was not guilty and accuses Nissan and Japanese government officials of plotting to eliminate him. Ghosn shocked the world by leaving Japan last year and turning up in Lebanon, where he holds citizenship.

It is worth noting that in terms of market capitalization (the total value of all shares), Tesla has already surpassed Volkswagen AG. As of today, Volkswagen AG is worth $93 billion, and Tesla is already worth $105 billion.

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