TOKYO -- Toyota Motor held its title as the world's largest automaker by sales in 2024. This is thanks in part to record-high hybrid sales, a sign that Toyota's continued commitment to develop a variety of engine technologies instead of going all-in on fully electric vehicles is paying off.
The Japanese carmaker said Thursday that it sold 4.1 million hybrid vehicles under the Toyota and Lexus brands worldwide in 2024, up 21% year on year and the highest ever for one year. Sales in North America were up 48% compared with 2023 as buyers of new cars increasingly opt for hybrids, according to the company. Sales in China and Europe also increased, 27% and 8%, respectively, compared with the previous year.
