General Motors (GM) to Overtake Toyota (TM) as Global Sales Leader
Tweet Send to a Friend
Get Alerts GM Hot Sheet
Trade GM Now!
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Best Buy (BBY) Posts Q1 adj.-EPS of 32c; Comps Down 1.1%
- Tessera (TSRA), Starboard Reach Agreement Over Board Composition
- J. C. Penney (JCP) Enters $2.25B Secured Term Loan Facility
Create E-mail Alert Related Categories
Corporate News, Retail SalesComments
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
gm/t
kr on Jun 13, 2011 11:08 AMMark as Spam | Reply to this comment
thanks to the recalls on T provided by US