Volkswagen becomes World’s largest automaker

Volkswagen becomes World’s largest automaker

VW becomes World's largest automaker

It was only a year ago that Volkswagen passed Ford as the World’s third largest carmaker in terms of global sales, but VW didn’t stop there. According to latest reports, the Volkswagen Group, which now includes Porsche, has overtaken Toyota to become the world’s biggest automaker, with production estimated to be 4.4 million vehicles so far this year.

Production at Toyota, on the other hand, is still massive but has only topped 4.0 million vehicles since January.

The estimates, reflect the effects of government measures in China, Germany and the UK on the German auto giant. VW benefited much more than Toyota from the recent European cash-for-clunkers scheme.

Another key factor was Toyota’s decision to halve its output in the first quarter of the year which helped Volkswagen’s position. In fact, Toyota is only expected to produce 7.24 million vehicles for the year, down from 9.24 million last year.

In a loosely related matter, Qatar Holding, the investment arm of Qatar’s sovereign wealth fund, has sold half of its stake in Volkswagen, making a quick $2.4 billion in the process.

VW becomes World's largest automaker

It was only a year ago that Volkswagen passed Ford as the World’s third largest carmaker in terms of global sales, but VW didn’t stop there. According to latest reports, the Volkswagen Group, which now includes Porsche, has overtaken Toyota to become the world’s biggest automaker, with production estimated to be 4.4 million vehicles so far this year.

Production at Toyota, on the other hand, is still massive but has only topped 4.0 million vehicles since January.

The estimates, reflect the effects of government measures in China, Germany and the UK on the German auto giant. VW benefited much more than Toyota from the recent European cash-for-clunkers scheme.

Another key factor was Toyota’s decision to halve its output in the first quarter of the year which helped Volkswagen’s position. In fact, Toyota is only expected to produce 7.24 million vehicles for the year, down from 9.24 million last year.

In a loosely related matter, Qatar Holding, the investment arm of Qatar’s sovereign wealth fund, has sold half of its stake in Volkswagen, making a quick $2.4 billion in the process.

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