(Photo: Campaign Live)

Toyota returns as world’s biggest automaker

(Photo: Campaign Live)

Toyota has reclaimed its spot as the top-selling automaker in the world.

Toyota has surpassed Volkswagen to reclaim the title of the world’s biggest automaker.

The Japanese company overtook Volkswagen after it sold 9.5 million units globally, in comparison to Volkswagen’s 9.3 million, last year.

The news came today when Toyota revealed its overall performance, including sales of its Daihatsu and Hino makes.

Volkswagen, the German company responsible for the Audi and Porsche brands, overtook Toyota – which had held the pole position for four consecutive years since 2013- for the top spot in 2017.

Volkswagen saw its deliveries drop just over 15 per cent amid the coronavirus pandemic.

Now, carmakers are facing a critical shortage of semiconductors that threatens to hamstring production.

According to UBS analysts, Volkswagen could lose out on production of 100,000 units in the first three months of the year, or roughly four per cent of global quarterly output, as a result of the components shortages.

The biggest carmakers are still making money, though.

Volkswagen said last week that profits for 2020 topped $12 billion, pointing to a recovery in the second half of the year.

The company also pointed to a slight uptick in its share of the global passenger market, as well as a huge jump in purchases of electric cars and hybrids.

Toyota has not yet released its full-year financial results for 2020.