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Toyota takes over at the top

23/01/2009

Toyota has toppled American goliath General Motors from being the world's biggest car manufacturer, a position it had held for 77 years.

Despite being hit by the global financial crisis along with the majority of the car industry, Toyota sold 8.97 million cars in 2008.

While this was 4% down on its 2007 figure, the company fared better last year than GM, which recorded an 10.8% slump to 8.35 million sales.

Although GM recorded growth in Latin America, Africa and the Middle East and in Asia-Pacific regions, it was particularly badly hit in its traditionally strong North American market, where sales declined 21%.

GM took over from Ford as the world's biggest car company during the Great Depression in 1931, and had remained there ever since.

The two other American car giants - Ford and Chrysler - also experienced a turbulent year in their domestic market, which culminated in a $13.4 billion bailout of GM and Chevrolet.

Toyota spokesperson Mike Michels played down the significance of the reversal at the top. Quoted in the Baltimore Sun, he said that corporate rankings "just don't show up in customer surveys as a reason for purchasing a car".

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