Battled by a series of recalls and dipping sales, Toyota is slowly becoming a shadow of the company that dethroned General Motors in 2009. And with Volkswagen's mind clearly set on world domination, it can't be good news for the Japanese maker that it also lost its top position among Asian makers in Europe, to Hyundai Motor Co. and affiliate KIA Motors Corp.
The two Korean companies sold a combined 521,369 vehicles in the first ten months of 2010, a 4% improvement over the last year, earning them the title of the biggest Asian carmaker in Europe with a market share of 4.5%. Meanwhile, Toyota's figures, including Lexus sales, dropped by 17% to 511,754 units, which accounts for 4.4% of the European market.