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Toyota displaces GM as world's largest car maker

Toyota displaces GM as world's largest car maker

Japanese auto maker Toyota has claimed the position of the world's largest car maker from General Motors by selling 8.97 million vehicles in 2008, compared to the 8.35 million units sold by the US auto company during the same period.

Toyota's sales were hit by the global economic downturn, dipping 4% in 2008; while General Motors's (GM) sales fell 10.8% during the same period. GM had been the world's largest car maker for a 77-year period.

Mike DiGiovanni, GM's executive director of global market and industry analysis as quoted by the Associated Press, said: "I do not think being No-1 in vehicle sales means much at all to the American consumer. I think what matters most to the consumer is strong brands and strong products. And the key thing right now with what the industry is going through is viability and profitability."

23rd January 2009

By Staff Writer

Taken from: http://www.automotive-business-review.com