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Toyota Observes 2.8% Rise in Global Sales in Third Quarter Business

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Published on : Oct 27, 2014

Toyota Motor Corp. has stated that its global sales rose by 2.8% in the first three quarters of this year. Toyota is battling carmaker Volkswagen AG to earn leadership in the global market. A rise in its profits serves as a reassurance about the company’s stronghold on the market.

Toyota’s spokesperson Dion Corbett told reporters that the worldwide sales of Toyota vehicles, including its Daihatsu Motor Co. and Hino Motors Ltd. subsidiaries, rose to 7.6 million vehicles till the end of September. These figures excluded sales from Toyota’s two heavy-truck divisions.

Global automakers are operating amidst huge pressures from customers and regulators regarding rising concerns about vehicle safety and mounting recall issues. The issue of recalls haunts both Toyota and Volkswagen too, but both these companies are experiencing increasing demands from China and the U.S.

In these depressing times too, the U.S. market is seen backing Toyota strongly, while Volkswagen is receiving excellent demands from the Chinese market.

In a statement released by Toyota, company’s President Akio Toyoda addressed company’s shareholders saying that the company is advancing its reach in an uncharted territory. He also noted the company had reached a milestone selling of more than 10 million vehicles throughout the world last year, a mark that both Toyota and Volkswagen are trying to exceed again this year. 

A surplus of 5.7% vehicles was sold by Toyota in the U.S. market through this year’s September. A major portion of this sales-hike was achieved due to the 26% rise in sales of Toyota RAV4 sport utility vehicle.

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