Toyota overtakes GM
Toyota Motor has taken the first-quarter global automotive sales lead from General Motors, selling 2.41 million vehicles to GM's 2.25 million over the first three months of the year. GM barely won the global sales race with Japan-based Toyota last year. Toyota overtook General Motors as the world's top automaker in global vehicle production last year. A record 64% of GM's sales came from outside the United States.
Strong demand in Europe supported Toyotas world-wide sales. GM posted record sales in three of its four regions, but a 10% drop in North America pulled down the overall numbers. Toyota's popular, fuel-efficient small cars such as the Corolla model grew strongly in China, while production of pickup trucks rose steadily in Thailand during the quarter. Some analysts say it is only a matter of time before Toyota, which built its business in the decades after World War II by imitating American automakers, overtakes GM in terms of annual global sales as well as production.
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