Toyota's global sales down 4%, but may still overtake GM
NAGOYA —
Toyota Motor Corp said Tuesday its group’s global vehicle sales in 2008 fell 4 percent from the previous year to 8,972,000 units, but that it looked increasingly likely to overtake General Motors as the world’s largest automaker in terms of sales for the first time ever. The U.S. carmaker had retained the top slot for 77 straight years until 2007, but is set to be stripped of the title as it struggles to keep afloat amid the financial turmoil and an industry-wide slump.
The Toyota group, including Daihatsu Motor Co and Hino Motors Ltd, was already ahead of the top U.S. automaker by over 300,000 units in sales during the January-September period of 2008. GM is expected to release its 2008 sales results on Wednesday. Domestic sales of the Toyota group slid 5% to 2.15 million units while its overseas sales declined 4% to 6.82 million units due to sagging demand in key markets amid the global economic downturn.
Toyota also said that Akio Toyoda, grandson of the company’s founder, has been picked as the new president. The widely expected selection of Toyoda, 52, will become formal once shareholders approve the appointment in June, the company said.
Toyoda’s promotion marks the first time a Toyoda family member takes the helm at the company in 14 years.
Wire reports
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0
Yelnats
Great company doing something right. I never realized they owned Daihatsu too.
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Altria
Despite GM supposedly being the world's largest automaker, I don't remember ever seeing a single car made by them. Do they only sell in America? Plenty of Fords around and the odd Chrysler, though.
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herefornow
Altria -- you must never get to Roppongi. Lot's of Cadillacs, usually the SUV's, to be seen around -- mostly outside the Yak hangouts. I hope Toyoda does a better job than William Caly Ford has done. Ford had to bring in the guy from Boeing to find a proper CEO.
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some14some
Psychological shock of not reaching 10m target for Toyota is far greater than overtaking GM a sick unit !
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memyselfI
toyota please make a new Supra. Please Please
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Ah_so
This means that people are still voluntarilly buying rubbish cars when there are perfectly good alternatives. How strage.
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electric2004
And for 4% all these wining and layoffs from Toyota?
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usaexpat
I don't believe the numbers, down 4% in foreign markets? How about more like 30% or more. Who is buying new cars of any make these days? Altria: GM sells hardly anything here, I've seen the odd Pontiac here and there although they sell quite well in China (Buick produced in China) as well as Europe (Opel and Vauxhal) and Australia (Holden)
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Good_Jorb
At least in Canada sales of Toyota have increased.
http://www.wheels.ca/article/495657
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unklesam
WTF di you mean "may" pass GM ??? 77 years in a row and GM is still at #1 ??? All the hullaballoo here at JT and I thouight that Toyota had already passed GM for #1. Too funny. Personally, I can't help but wonder how Toyota will fudge the numbers to pull this off. my understanding is that they pegged their sales at 106 to the dollar... not the current 90 ! Ha-ha-ha !
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pointofview
Still had to get that "but may still overtake GM" in there, didn`t they?
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unscrejects
This is too much! It has been 20 plus percent down - how come it's only 4% now? That 4% was worth 80% of its profit?????? Folks how gullable can you be?
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