VW poised to dethrone Toyota as world’s largest automaker
04/17/2009, 9:02 AM
By Drew Johnson
Volkswagen has set the goal of overtaking Toyota as the world’s largest automaker by 2018, but it doesn’t look as though the German automaker will have to wait that long. If early reports are correct, VW may have overtaken Toyota as the largest automaker in the first quarter of 2009.
Although VW’s sales were down 11.4 percent in the first quarter, the German automaker saw some strong sales gains in key markets like Germany, Brazil and China. On the other hand, Toyota’s Q1 sales are expected to be down more than 40 percent, with a significant portion of those losses coming from key markets such as the United States and Japan.
In all, VW sold 1.39 million vehicles in the first quarter. According to Reuters, Toyota’s first quarter sales will slip 47 percent to 1.23 million units. Toyota isn’t expected to post its official Q1 results until next week.
If those results hold true, VW can thank scrappage incentive in Germany, Brazil and China – three markets that make up more than 40 percent of VW’s sales — for the number one spot. Government programs in those three regions have spiked consumer demand for new cars, with VW taking better advantage than Toyota.
Although the results are not yet official, it looks as though VW will steal the crown as world’s largest automaker for the first quarter of ’09. However, industry experts expect the race to be tight all year long, meaning VW could still be sitting on top by year’s end.