VW takes top spot

Toyota Motor Corp has conceded top spot as the world’s highest-selling automaker as it global sales for 2016 fell short of Volkswagen AG’s.

Having held the title for the past four years, and despite an increase in sales on 2015, Toyota said global sales across its Toyota, Lexus, Daihatsu minicar and Hino Motors Ltd truck brands stood at 10.18 million. This was less than the record high 10.3 million sold by Volkswagen.

Toyota forecasts global sales to increase to around 10.23 million vehicles in 2017.