If you do not compromise 100% with something and diversify your strategy, you always have the opportunity to One of the business branches Be the best cove in the market. That diversification is key For companies, with technology being a great example Of this, but it also works in the motor world. As? Well, with propulsion systems.
And who has understood it perfect is … Toyota, who has been dominating the market for five years. Its strategy has been precisely that: not put all the eggs in the same basket.
Cruise speed. On January 30, and how we read in ReutersToyota confirmed that, for 2024, they sold 10.8 million vehicles. It was the confirmation of the domain in the ranking of the car manufacturer that sells the most worldwide for five consecutive years. Thus, the group has been dominating the market since 2020 (included), when it managed to snatch the first place to a Volkswagen that had dominated the previous five years.
Europe. If we focus on our territory, the company sold 1,217,132 vehicles between Toyota (the vast majority) and Lexus. In a statement, confirmed that its sales increased by 4% compared to 2023, with electrified options as absolute protagonists with 902,922 units sold.
Potholes. Volkswagen stayed at just over nine million units sold, but if something shares the two companies is the bump in sales they have experienced. For the Germans, a decrease of 2.3% while looking to reduce expenses and strengthen their position in China (a key market for them). In the case of Toyotal, the fall was 3.7% compared to the previous year.
Not all markets behaved the same and, for example, in Japan, misfortune was considerable. The company saw a drop of almost 20% at home due to different causes. On the one hand, the partial suspension of the Prius production, a Toyota icon, due to natural disasters. On the other, controversies and certification problems of subsidiaries such as Daihatsu.
Eggs in separate baskets. Beyond this, that Toyota has consolidated again as the main manufacturer has to do with its strategy. While half the world is obsessed with the electric car, there are countries like Japan that They are still betting on hybrid. This has forced companies such as the aforementioned Toyota, but also Honda, Nissan or Mazda They move with lead feet On the way to total electrification.
At the same time, Toyota has several versions of its cars, so we can buy vehicles exclusively with combustion, but also hybrid, plug or 100% electric hybrids. The C-HR 2024 is hybrid or plug-in, but we also have diesel, gasoline models, others that allow you to choose between diesel or gasoline, diesel and electric, 100% electric and even hydrogen, such as the Mirai.
In short, they have opted for everything and, while there are some strategies that seem that they will not work in the future, such as hydrogen due to a low implementation of ‘hydrogeneras’ and controversial for alleged unfulfilled promisesgiving all options and offering models with electrical or combustion motorizations, is working.
Reputation. On the other hand, it is undeniable that the company enjoys a privileged reputation. If we excites “more reliable car brands”In a search engine, the Japanese are in the top positions, being Toyota and Lexus two of the outstanding names. That good advertising has been pulled in recent years with their cars, which plays in their favor at the moment when someone has to decide for one or another brand.
China is a hard bone. Now, as Reuters points out, where the Japanese are not having such a clear domain is in a market that is consolidating as one of the main ones: China. While in the United States and Europe sales have gone stern for the bet in hybrids, in China sales fell 6.9%.
The competition in China is fierce, with a multitude of national brands that are looking to expand and others such as the European ones seeking, and need, set in that market. We will see what happens this 2025because, precisely, China is now the one that is expanding and Competitors like Byd or mg, also with many motorization options and aggressive pricesthey won’t put it at all easy.
Image | Toyota