Toyota May Displace GM As World's Biggest Automaker

Bloomberg:

Jan. 21 (Bloomberg) -- Toyota Motor Corp. is poised to end General Motors Corp.'s 77-year reign as the world's largest automaker after avoiding the worst of the meltdown in global auto demand.

GM's 2008 sales probably fell more than 10 percent to about 8.34 million vehicles, based on preliminary regional figures. Toyota posted a 4 percent drop to 8.92 million. Detroit-based GM will announce its official tally at about 9 a.m. New York time.

Toyota may take the crown after boosting sales 70 percent since 1999 on demand for fuel-efficient cars in the U.S., Europe and emerging markets. Still, bragging rights may do little to revive growth amid a global recession that has forced the Japanese automaker to forecast its first operating loss in 71 years and caused GM to seek a government bailout.

Read the whole story: Bloomberg

Comments

[djgonebad]

Being from Detroit it's a sad day, but you have to fall before you can rise up. But the questions is- IS IT TOO LATE? Hopefully not.

And I know very few auto-line workers making $74 an hour. THAT'S BULLSH!+

It's a myth, created to piss of the un-unionized masses, wishing for a real job that pays a good wage.

Raise hourly wages; cut the obscene CEO bonuses ; STOP WITH THE CORPORATE WELFARE; start the 4-day work week; and maybe the country can regain it's balance.

People need jobs, and the country needs a progressive approach towards the economic injustices created from 30+ years of Reagenomics; Obama is here to lead the way.

[mrcontinental]

Stick a fork in GM because they are DONE not matter what happens.

[Chavez08]

Alot of Japan loving Republicans in the room today. Maybe they need to go to Asia if they love it so much(?)

Just a thought.

[drymartini1]

we love japanese cars. why move to japan when we can have japanese cars right here ?

chill out dude !!

[Rule Of Law]

And how much is GM's stake in Toyotya? Or Exxon's?

[KillTheMessenger]

Well? Since you know, why not tell us?

:-)

[Rule Of Law]

I wish I did, Killer :)

[KillTheMessenger]

The sad part it, if this had happened ten years ago, GM would be a perfectly healthy company now. Why? Because if they had given up the foolish strategy to sell the most cars for the much better one of selling the most profitable cars, they would be slightly smaller and perfectly profitable.

[pharm]

They did just that. The SUV`s and trucks were, and are, the most profitable vehicles. Your logic doesn`t work!

[KillTheMessenger]

They lost money on every one of them. "Most profitable" is not enough in business. You actually have to break even with something and they never did.

[NJmikeV]

The old $74 /hr myth.

http://www.politifact.com/truth-o-meter/statements/2009/jan/13/spencer-bachus/big-three-wages-inflated/

[Chavez08]

Thanks, Reagan!!!!

[LibRS]

Thanks Reagan?????

Please take an economic 101 class. The great UAW that believes that someone with a high scholl education should be making $74.00/hr and the auto companies who allowed them to do it are at blame here.
Judas priest!!

EDUCATE YOURSELF!!!!!!!

[NJmikeV]

Who educated you about that $74/hr wage ? Rush or Sean ?

[gjohntheterrible]

There is no UAW worker making $74 an hour. That idiotic claim was debunked months ago, where the hell have you been? The workers salaries are on par with the workers at toyota they make $26 - $28 an hour.

[pharm]

Without getting your panties in a bunch, sit down and explain to me how the UAW, with labor costs being 6% of income in 2008 ,is the reason the auto makers are doing so bad. I guess Toyota should(as they are trying now) cut their wages and benefits too? When everyone is making $9 an hour things will be peachy keen again!

[Chavez08]

Your Daddy Reagan made the trade rules, remember? - Japan dumps on ungoverned but they get to tariff our automotive exports 70%+. It was an intentional Republican attack on American companies. Republicans hate America but love China and Saudi Arabia.

Go back to gradeschool.