Volkswagen Retains Lead in Global Sales
Toyota might pull in the biggest reign on car sales in the Philippines, but when it comes to global sales, Volkswagen still retains its number one spot over the rest.
According to Bloomberg.com, Toyota’s sales increased by two percent to 10.6 million vehicles last 2018, although Volkswagen maintains its lead of almost 11 million vehicles. Volkswagen has retained its lead as the top global automaker for the fifth year in a row, delivering 10.83 million units last year.
Meanwhile, the Renault- Nissan-Mitsubishi alliance sold 10.76 million passenger cars and light commercial vehicles in 2018.
“Deteriorating” vehicle sales
It can be remembered that the German car maker dethroned Toyota four years ago, with its consumer base dominated by the Chinese market. However, the country’s car industry has been experiencing a big slump in vehicle sales for almost twenty years now. Currently, the trade war, together with bearish Chinese stocks, have made car buyers more hesitant in parting with their cash.
Aside from China, global emission rules have become stricter. According to Bloomberg.com, this is forcing car makers to sell more battery-powered cars that are “less profitable than combustion vehicles.”