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Toyota holds onto crown of World's Largest Automaker

Although there were hints and allegations that the Volkswagen Group might have taken the global sales crown for 2014, the final tally puts Toyota at the top with 10.23 million sales in 2014. We should really say it keeps Toyota at the top, since that makes three years in a row the Japanese company has been No. 1. Volkswagen Group came in second with 10.14 million units sold, General Motors in third with 9.92 million units sold. This the first time for both Toyota and Volkswagen to pass 10 million sales in a single year. Toyota, including its Hino and Daihatsu divisions, did it with a three-percent increase in company-wide sales on the back of strong demand in Japan and the US. Its strength in developed markets might be the reason it loses the title this year, though; Toyota forecasts a two-percent gain in sales outside of Japan, but a nine-percent drop in its home market because of a new consumption tax that encouraged buyers to purchase before the end of last year. On top of that, turmoil in Southeast Asian economies like Thailand and Indonesia depressed sales in 2014 and they're facing more headwinds. The company envisions 10.15 million sales in 2015. Volkswagen, on the other hand, "has a jet engine strapped to its back called 'China,'" where Toyota is out-of-sorts. Volkswagen Group sales fell 2.9 percent in the US last year, while Toyota gained 6.2 percent here. But Volkswagen roped in 3.7 million sales in China, a 12-percent increase. Toyota enjoyed a huge bump of 12.5 percent in China, but that only got it to 1.03 million units, missing its yearly target and leading to trouble with its Chinese dealers over unsold inventory. With Toyota on the Chinese sidelines while Volkswagen guns for No. 1 status and pledges more production capacity in China – sales there are expected to top 25 million units this year – it looks like this could be the year the VW Group takes over the lead. That would be three years ahead of its original target of 2018. An analyst in Japan said Toyota is more focused on "keeping profitability than chasing numbers" – profitability is an issue for VW right now – so Toyota might not be back at the top "for [the] coming years." News Source: Bloomberg, Automotive News - sub. req. Earnings/Financials GM Toyota Volkswagen Car Buying Daihatsu sales volkswagen group

Defying Trump, major automakers finalize California emissions deal

WASHINGTON — The California Air Resources Board (CARB) and major automakers on Monday confirmed they had finalized binding agreements to cut vehicle emissions in the state, defying the Trump administration's push for weaker curbs on tailpipe pollution. The agreements with carmakers Ford Motor Co, Volkswagen AG, Honda Motor Co and BMW AG were first announced in July 2019 as voluntary measures prompting anger from U.S. President Donald Trump. A month later, the Justice Department opened an antitrust probe into the agreements. The government ended the investigation without action. The Trump administration in March finalized a rollback of U.S. vehicle emissions standards to require 1.5% annual increases in efficiency through 2026. That is far weaker than the 5% annual increases in the discarded rules adopted under President Barack Obama. The 50-page California agreements, which extend through 2026, are less onerous than the standards finalized by the Obama administration but tougher than the Trump administration standards. The automakers have also agreed to electric vehicle commitments. Volvo Cars, owned by China's Geely Holdings, said in March it planned to join the automakers agreeing to the California requirements. It has also finalized its agreement. The settlement agreements say California and automakers agreed to resolve "potential legal disputes concerning the authority of CARB" and other states that have adopted California's standards. In May, a group of 23 U.S. states led by California and some major cities, challenged the Trump vehicle emissions rule. Other major automakers like General Motors Co, Fiat Chrysler Automobiles NV and Toyota Motor Corp did not join the California agreement. Those companies also sided with the Trump administration in a separate lawsuit over whether the federal government can strip California of the right to set zero emission vehicle requirements. Ford said the "final agreement will reduce emissions in our vehicles at a more stringent rate, support and incentivize the production of electrified products, and create regulatory certainty." BMW said "by setting these long-term, predictable, and achievable standards, we have the regulatory certainty that is necessary for long-term planning that will not only reduce greenhouse gas emissions but ultimately benefit consumers as well." 

Only VW, Volvo are doing enough to electrify in Europe, study says

Among major carmakers, Volkswagen and Volvo are doing enough to electrify their vehicle lineups in Europe, and the EU needs to set tougher CO2 emission limits if it wants to meet Green Deal targets, according to a climate group's study. Sales of battery electric vehicles and plug-in hybrids almost tripled last year, boosted by tighter emission standards and government subsidies. This summer, the European Union is expected to announce more ambitious CO2 targets; by 2030, the average CO2 emissions of new cars should be 50% below 2021 levels, versus the existing target of 37.5%. Volkswagen aims to have 55% group-wide BEV sales in Europe by 2030, while Swedish carmaker Volvo, owned by China's Geely says its lineup will be fully electric by then. VW ID4 front three quarter dark View 19 Photos Based on IHS Markit car production forecasts, according to the study from European campaign group Transport and Environment (T&E), Volkswagen and Volvo have "aggressive and credible strategies" to shift from fossil-fuel cars to electric vehicles. Others like Ford Motor Co have set ambitious targets, "but lack a robust plan to get there," T&E said. Ford plans an all-electric lineup in Europe by 2030. T&E said BMW, Jaguar Land Rover (JLR), Daimler AG and Toyota rank the worst as they have low BEV sales, have "no ambitious phase-out targets, no clear industrial strategy, and an over-reliance in the case of BMW, Daimler and Toyota on hybrids." JLR, owned by India's Tata Motors, says its luxury Jaguar brand will be all-electric by 2025, but has been less specific about electrification of its higher-volume Land Rover brand. BMW and Daimler have been reluctant to set hard deadlines for phasing out fossil-fuel cars. T&E said even if carmakers meet their targets, in 2030 BEV sales could be 10 percentage points below those needed to meet the EU's Green Deal — which targets net zero emissions by 2050. Rather than a 50% reduction in CO2 emissions by 2030, based on carmakers' existing production plans, the EU could set more ambitious targets, T&E said - an up to 35% reduction in CO2 emissions from new cars by 2025, around 50% by 2027 and up to 70% in 2030. "Targets need to be gradually tightened so that carmakers not only commit to phasing out fossil fuels, but develop a strategy that gets them there on time," Julia Poliscanova, T&E senior director for vehicles and e-mobility, said in a statement.