Toyota Outsells GM Globally For First Time
This moment has been long-anticipated: For the first full year, Toyota sold more vehicles around the world than General Motors, knocking the world sales leader from its perch for the first time in more than 70 years.
Auto analysts had been predicting for some years that Toyota's surge would carry it past GM at some point, but the ongoing recession has been tougher on GM than its Japanese rivals, causing GM's earlier-than-anticipated eclipse.
For all of 2008, Toyota said today that it sold 8.97 million vehicles, outpacing GM's 2008 sales of 8.36 million cars and trucks in 2008.
GM suffered an 11 percent sales drop for 2008, while Toyota's sales fell 4 percent.
January 21, 2009; 9:39 AM ET
Categories: The Ticker | Tags: Detroit bailout, GM, Toyota
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