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GM loses world auto sales crown to Toyota

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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 01:49 PM
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GM loses world auto sales crown to Toyota
GM loses world auto sales crown to Toyota

DETROIT: For the first time since the Great Depression, General Motors cannot call itself the world's largest automaker. Its sales fell behind Toyota's in 2008, the year that GM celebrated its 100th anniversary and narrowly avoided a bankruptcy filing at a time of economic downturn.

GM, based in Detroit, said Wednesday that it sold 8.35 million vehicles in 2008, about 620,000 fewer than the 8.97 million sold by Toyota Motor. GM sales were down 11 percent from 2007, while Toyota's declined 4 percent.

Toyota, which was founded in Japan two years after GM became the world's dominant carmaker, had been closing in on GM for years.

Its sales surged around the world while GM's global expansion was tempered by decades of falling market share in the United States. The two had traded places from one quarter to the next in recent years, and GM was widely expected to slip into second place in 2007, but surpassed Toyota by 3,000 vehicles.

http://www.iht.com/articles/2009/01/21/business/auto.3-...
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BOSSHOG Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 01:53 PM
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1. We have a Toyota Car and a Chevy Truck
Am I powerful or what??
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Radical Activist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 01:53 PM
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2. This is no surprise.
The fact that Toyota's sales fell by much less than GM's proves the lie behind GM's claim that their troubles are only due to the slumping economy. They refused to make cars that people want.

The auto industry is going to argue that the financial crisis should exempt them from having to meet any new fuel economy or emissions standards. The American auto companies refusal to produce fuel efficient cars is a primary reason for their decline and they shouldn't be allowed to accept taxpayer dollars without reforming their business model.

No bailout without conditions!
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