Volkswagen bested by Toyota in car sales

Toyota sold 10.23 million vehicles last year, it said on Wednesday, outpacing General Motors and Volkswagen to remain the world's biggest automaker, but a shaky outlook for 2015 could see it lose the title to its German rival.

The record worldwide annual sales figure beat Volkswagen, which logged sales of 10.14 million vehicles, and US-based GM, which said it sold 9.92 million cars last year.

But Toyota also said sales would decline this year to an expected 10.15 million vehicles, as demand falls off in its home market. 

That will likely mean Toyota will trail behind Volkswagen this year, as the German automaker rides momentum in emerging economies that could see it take the lead in global auto sales for the first time.

Toyota broke GM's decades-long reign as the world's top automaker in 2008 but lost the crown three years later as Japan's earthquake-tsunami disaster hammered production and disrupted the supply chains of the country's automakers.

However, in 2012 it once again overtook its Detroit rival, which sells the Chevrolet and luxury Cadillac brands.