General Motors (GM) to Overtake Toyota (TM) as Global Sales Leader

June 13, 2011 8:56 AM EDT
General Motors (NYSE: GM) is catching a bid early Monday morning following reports the Detroit, MI-based automaker could reclaim the top spot as the world's largest auto manufacturer from Japan's Toyota (NYSE TM).

Sales between the two companies narrowed last year, with GM finishing just 28,000 vehicles behind Toyota. GM sold 2.2 million vehicles in the first quarter, moving past Toyota, and reporting an 11 percent sales increase year-over-year. Toyota reported sales of 1.8 million units in the first quarter.

Friday, Toyota released a dimmer outlook, setting itself to drop all the way to third place in global sales.

Toyota has been crippled since the March 11th earthquake in Japan, which disrupted much of its global production. Toyota has since restarted many shops, but has been cautious about ramping-up production.

The last time General Motors finished ahead of Toyota in sales was 2006. This will be the first time since the financial meltdown and subsequent bailout that General Motors will sit atop the global sales board.

Neither company commented on the potential shift. A GM spokesperson commented it is committed to quality vehicles, not sales. Toyota echoed the same sentiment.

General Motors is trading about 0.6 percent better pre-market Monday.

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kr on 2011-06-13 11:08:02
Mark as Spam | Reply to this comment

thanks to the recalls on T provided by US

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