Toyota Motor Corp. has lost its crown as the world¡¯s best-selling automaker to Volkswagen AG, ending a four-year reign that saw emerging challenges ranging from the threat of U.S. trade barriers to slowing demand in China after a tax increase.
Worldwide sales for Toyota, including its units Hino Motors Ltd. and Daihatsu Motor Co. , rose 0.2 percent to 10.175 million vehicles in 2016, the automaker said Monday. That fell short of Volkswagen¡¯s record 10.3 million cars, trucks and buses, up 3.8 percent.
Toyota lagged behind Volkswagen mainly due to the diverging fates in their largest overseas markets.
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