- Volkswagen said on Tuesday it shipped 10.97 million vehicles in 2019 as compared to 10.83 million in 2018, which makes it on to the top.
Volkswagen has reported annual record sales that could decide if it is keeping its position as the world’s largest automaker. The Germany-based company said on Tuesday it shipped 10.97 million vehicles in 2019. This compares to 10.83 million in 2018, when Volkswagen beat out both the Renault-Nissan-Mitsubishi alliance and Toyota, although the alliance was slightly ahead when trucks were excluded from the number.
In the coming weeks, the partnership and Toyota will comment on their estimates. In December, Toyota projected its output for 2019 would be 10.72 million, putting it behind Volkswagen.
General Motors held the title for more than seven decades before losing it to Toyota in 2008 and after selling its European company and closing other cash-losing operations, he no longer has a shot at the top spot.
Volkswagen stresses that it is not the market leader as a corporate target, but instead focuses on its financial performance. In a drive under former CEO Martin Winterkorn to dethrone Toyota as No. 1 in sales, the company’s diesel fiasco, in which it rigged vehicles to cheat on emissions emission tests, arrived. Since then, the business has been pivoting towards electric cars in the aftermath of the 2015 fiasco, as the industry tries to reach tighter greenhouse gas limits.
Volkswagen has been able to boost revenue despite declining global car markets. This means that its market share against the competition has risen. Revenue was boosted by strong results in its home market in Germany, the United States, and Brazil, while sales in the Asia-Pacific region fell.
Volkswagen recently, In 2017, Volkswagen announced plans to concentrate heavily on electric vehicles (EVs), with the target of releasing at least 30 EV models by 2025 and making 20-25% of its total annual sales volume (2-3 million) consisting of EVs. Volkswagen CEO Matthias Müller announced in September that the company planned to have electric versions of all its vehicle models by 2030, at a cost of € 20 billion, and € 50 billion on battery acquisition. In 2018 Volkswagen returned to motorsport by unveiling their all-electric I.D. R. Romain Dumas set an all-time course record of just under eight minutes driving the I.D. at the Pikes Peak International Hill Climb.
