Volkswagen Takes Back the Crown
After Toyota took the top spot as the world leader in car manufacturing in 2020, Volkswagen takes back the top spot in 2021. Last year, Volkswagen was able to generate $290.2 billion in revenue while taking in $23 billion in profit. Toyota came in second for the year bringing in $272.3 billion in revenue. Much of Toyota’s recent success comes from becoming the leading manufacturer in the United States. This is the first time since 1931 that GM is not the leading manufacturer of cars in the United States. In 2021, Toyota saw a 10.4% increase in sales in the U.S. which boosted their sales to 2.3 million cars sold in the United States. Volkswagen doesn’t have nearly as much of a presence in the United States, with a total of 375,030 units sold which resulted in an %15 increase from 2020.
A portion of Volkswagen’s success in 2021 stems from the ownership of luxury car companies such as Audi, Bentley, Lamborghini, Porsche, and Ducati. The biggest advancement made by Volkswagen this year was the creation of the ID.4. This model of Volkswagen’s battery-powered electric vehicles (BEVs) was the most popular model. In its first year on the market, 119,650 units were sold. As a result of the ID.4, Volkswagen is among the world leaders of BEVs. With the increase of BEV sales worldwide, Volkswagen looks to remain the best car manufacturer after 2021.
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