04.25.07
Toyota overtakes GM in car sales
|
|
 Furl It |
Toyota has outsold General Motors (GM) in the first quarter of this year, which puts it firmly on track to become the world’s largest car manufacturer.
GM has held the position of the top-selling global manufacturer for 76 years, but it looks likely to lose it later this year.
Toyota says its global sales (which includes its other brands such as Lexus and Daihatsu) rose by 9% to 2.35 million cars in the quarter, while GM rose only 3% to 2.26 million units. GM owns brands such as Chevrolet, Cadillac, Saab and Vauxhall/Opel.
Toyota’s sales success has been built upon a reputation of building affordable, durable, fuel-efficient and reliable cars, while GM has, in the main, gone for high-profit, less fuel-efficient cars.
There’s doubt, though, about the quality control at Toyota during the manufacturer’s push for growth - last year, Toyota recalled 75,529 cars in the UK last year, a substantial increase on the year before. It also recalled over one million cars in Japan and over three-quarters of a million in the US.
Toyota expects it will make a profit of £6.5bn for the last business year, while GM lost £1.49bn last year.