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Market Digest Nigeria

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Volkswagen overtakes Toyota as the world’s biggest carmaker

German carmaker Volkswagen (VW) nudged Toyota Motors from the top spot in global vehicles sales in 2016, results showed on Monday, Jan 30, in Tokyo, Japan.

Toyota reported that its global group sales edged up 0.2% from a year earlier to 10.175 million vehicles in 2016, fewer than Volkswagen’s 10.31 million. The group’s sales outside of Japan fell 0.5% from a year earlier, to 7.94 million, due to decreased exports to North America, the carmaker’s largest market.

Despite an emission cheating scandal, VW said earlier this month that the 10.3 million number of global sales in 2016 was up 3.8% from the previous year. In 2015, Toyota sold 10.15 million vehicles while Volkswagen was second with 9.93 million and Detroit, Michigan-based GM third with 9.8 million.

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