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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

Automakers suspend some business in Russia following invasion

These Russian GAZ Tigr infantry mobility vehicles were destroyed by Ukrainian fighters in Kharkiv on Monday. (Getty Images)   Global auto and truck makers, including Sweden's Volvo Cars and Germany's Daimler Truck, on Monday suspended some business in Russia following that country's invasion of Ukraine. Russian forces invaded Ukraine last week, marking the biggest attack by one state against another in Europe since World War II. Many firms have idled operations in Russia following Western sanctions against Russia. Energy giant BP Plc, Russia's biggest foreign investor, abruptly announced over the weekend it was abandoning its 20% stake in state-controlled Rosneft at a cost of up to $25 billion. On Monday, Swedish automaker Volvo Cars said it would suspend car shipments to the Russian market until further notice, becoming the first international automaker to do so as sanctions over the invasion continue to bite. In a statement, the company said it had made the decision because of "potential risks associated with trading material with Russia, including the sanctions imposed by the EU and US." "Volvo Cars will not deliver any cars to the Russian market until further notice," it said. A Volvo spokesman said the carmaker exports vehicles to Russia from plants in Sweden, China and the United States. This came as Russia warned Sweden and Finland not to join NATO or risk facing “serious military-political consequences." Volvo sold around 9,000 cars in Russia in 2021, based on industry data. Earlier on Monday, RIA news agency reported Volkswagen had temporarily suspended deliveries of cars already in Russia to local dealerships, citing a company statement. VW had no immediate comment when contacted by Reuters. VW previously said it would halt production for a few days this week at two German factories after a delay in getting parts made in Ukraine. Daimler Truck said on Monday it would freeze its business activities in Russia with immediate effect, including its cooperation with Russian truck maker Kamaz. Mercedes-Benz Group is also looking into legal options to divest its 15% stake in Kamaz as quickly as possible, the Handelsblatt newspaper reported. A Mercedes spokesperson told Reuters business activities would have to be re-evaluated in light of the current events. Mercedes-Benz Group, formerly Daimler AG, was the parent company of Daimler Truck before the truck maker was spun off.

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Discussion Topics for Autoblog Podcast Episode #366
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