We’re actually getting used to it now – Toyota has again managed to outsell General Motors and Volkswagen this past quarter.
The Japanese company managed to beat both – while in 2013 Volkswagen passed General Motors for second place – for the third straight quarter, aided by increased sales in both Japan and China.
“We expect Toyota to hold the No. 1 title in the industry until 2016 or 2017,” said Masatoshi Nishimoto, an analyst at IHS automotive in Tokyo. “For Toyota to maintain the title beyond that, they may need to grow more in China.”
According to a statement from the Tokyo-based automaker, Toyota’s first quarter sales, including its Hino Motors and Daihatsu Motor subsidiaries grew to 2.58 million cars for the January-to-March period, an increase of around 6% over the same period last year.
For now, second place looks too close to definitely draw a conclusion as both GM and VW announced sales of around 2.4 million units – though the Germans haven’t yet announced the sales for the heavy truck brands MAN and Scania.
The Japanese company expects the fiscal year ending last quarter to be the most profitable for the company to date, projecting a record 1.9 trillion yen profit ($18.5 billion), mainly because of the evolution of the yen currency.