Toyota managed to climb to the top again. This Japanese company reclaimed its place as the world’s best-selling automaker, and its latest results show a great edge over Volkswagen Group (VLKAF).
The brand sold 9.5 million cars worldwide in 2020, according to figures that were released this January that include its Daihatsu plus Hino lineups. That’s compared with the 9.3 million units that were delivered also in 2020 by the company, which is the owner of its own brands such as Skoda, Audi and Porsche.
Plenty of huge carmakers have tussled over the global crown for many years. In 2013, Toyota became the top company since it overtook General Motors in sales. Two years later, Volkswagen gained the Japanese company, though the top of the ranking remained the same. It was in 2017 that the German brand officially unseated Toyota.
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While this was a great thing for Toyota, it doesn’t mean that this brand is absolutely good to continue. Over the past year, in 2020, the coronavirus pandemic lowered a lot the sales and disrupted supply chains across the whole auto industry, which has been very bad.
When it comes to Toyota delivers, they have dropped 11,3% in 2020 when compared to 2019. Volkswagen suffered a 15,2% drop, which was definitely worse. Nowadays, car manufacturers are facing a very critical shortage of semiconductors that threatens to hamstring their production.
According to UBS analysts, Volkswagen is able to lose out on production about 100,000 units in the first semester of 2021, or roughly 4% of global quarterly output, as a result of the components shortages.
However, the biggest carmakers are still making a lot of money. Volkswagen stated in January that profits for 2020 topped $12 billion, and this was a recovery in the second half of the year. They also pointed to a slight uptick in its share of the global passenger market, plus a huge jump in purchases of electric cards and hybrids.
Nowadays, because of the coronavirus, the car industry is facing a lot of trouble since not a lot of people are buying new cars. Even leases aren’t happening because people are in lay-off or were just fired from their jobs, so it’s difficult for them to maintain their house, food, etc. So that’s why many manufacturers of this industry are having a hard time, which is completely normal.
Only the big brands are able to earn money and they don’t have any problems with selling cars. This is good for those brands, however smaller brands are having a lot of trouble and this can lead the industry to some issues, which would be problematic. However, hopefully, now with the vaccine and the end of the pandemic everything will change.
With this change, this all means that the car industry will have a better year than 2020 and, hopefully, 2022 will be even better so this will all be for the best. People not buying cars is definitely something that can been seen as something bad. However, there are many reasons behind it. Nowadays it’s completely normal that people don’t buy cars anymore but, in the near future, everything might change.
Toyota is a huge brand and its cars are definitely incredible, with plenty of technology included and that’s something that customers really like. But all of this is very expensive. The better the technology and the more the tech it has, then the more expensive a car is, which is natural. Although it’s important to have technology part of your new car, this can cost you a lot but it’s really worth it.
Nowadays, people really trust technology in order to do almost everything when they have a car. But it isn’t everything. Of course, not everyone can afford a new, unused car. Many people have to buy used cars or even lease them. But with the pandemic it has been a difficult time for everyone and that’s why everyone has being having a hard time. So it’s only normal for the car industry to have issues.