Toyota overtakes GM to become world's top automaker by sales volume

NEW YORK, Jan. 21 Kyodo - Toyota Motor Corp. on Wednesday overtook General Motors Corp. as the world's
largest automaker in terms of sales volume for the first time ever after its
U.S. rival reported a 10.8 percent plunge in sales in 2008.

GM said its vehicle sales fell to 8,355,947 units in 2008, relinquishing its
title as the world's No. 1 in terms of annual sales for the first time in 78
years.
The change in the top spot comes as the auto industry is trying to overcome
plummeting demand for vehicles amid the global economic slump. Toyota also
suffered a sales drop in 2008, but the margin of fall for the top Japanese
automaker was smaller than that for the U.S. automaker, which suffered plunges
in sale of large-size vehicles on rises in gasoline price.
On Tuesday, Toyota reported its first sales decline since it began tallying
figures using the current method in 2001.
The Toyota group's global vehicle sales -- including those of Daihatsu Motor
Co. and Hino Motors Ltd. -- fell 4 percent from the previous year to around
8,972,000 units in 2008.
The Japanese automaker has accelerated the pace of its sales growth, especially
since 2000, thanks to demand in emerging countries and its strength in
fuel-efficient cars.
In 2007, Toyota boosted its sales by around 6 percent to a record high, coming
close to leapfrogging GM in annual sales, but fell short by about 3,100 units
of becoming the world's No. 1.
GM said in a statement that its 2008 sales fell from a year earlier,
''reflecting continuing global economic pressures that include tightening
credit, falling commodities prices and lack of GDP (gross domestic product)
growth.''
The Detroit-based automaker is now seeking to stay afloat with public funds.
Even though it is now the world's top automaker, Toyota expects to incur 150
billion yen in operating loss for the year to March, falling into the red for
the first time since it began releasing earnings results for the year to March
1941.
==Kyodo