Toyota Motor Corp. has lost its crown as the world's best-selling automaker to Volkswagen AG, ending a four-year reign that saw emerging challenges ranging from the threat of U.S. trade barriers to slowing demand in China after a tax increase.
Worldwide sales for Toyota, including its units Hino Motors Ltd. and Daihatsu Motor Co. , rose 0.2 percent to 10.175 million vehicles in 2016, the automaker said Monday. That fell short of Volkswagen's record 10.3 million cars, trucks and buses, up 3.8 percent.
Toyota lagged behind Volkswagen mainly due to the diverging fates in their largest overseas markets.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.