Paladin
KC Hill
Craig Hill
Oracle of DelphiToyota New World Number One
January 22nd 2009 08:15
It officially became the global best seller as General Motors’ 2008 figures showed it hit the skids following the American financial collapse.
The result ends 71 years at the top for GM, which had been on top since it overtook Ford during the depths of the Great Depression.
The official GM sales total last year was 8.356 million vehicles, well behind the Toyota tally of 8.972.
The result was announced in Detroit as GM battles for survival, and more US government funding, off the back of the worst sales downturn in recent memory.
GM's sales figure was down 10.8 per cent from its 2007 result of 9.37 million, and at home in the USA its result was down 21.1 per cent to 3.56 million.
But Toyota has not been immune to the global financial crisis and has recorded its first reversal in 10 years, as it also heads towards the first trading loss - although it will still post an overall profit - in company history.
GM shares fell 14 cents, or 4.1 percent, to US$3.36 in afternoon trading in the Unites States, while Toyota's U.S. shares rose 80 cents, or 1.2 percent, to US$66.68
Herald Sun
The result ends 71 years at the top for GM, which had been on top since it overtook Ford during the depths of the Great Depression.
The official GM sales total last year was 8.356 million vehicles, well behind the Toyota tally of 8.972.
The result was announced in Detroit as GM battles for survival, and more US government funding, off the back of the worst sales downturn in recent memory.
GM's sales figure was down 10.8 per cent from its 2007 result of 9.37 million, and at home in the USA its result was down 21.1 per cent to 3.56 million.
But Toyota has not been immune to the global financial crisis and has recorded its first reversal in 10 years, as it also heads towards the first trading loss - although it will still post an overall profit - in company history.
GM shares fell 14 cents, or 4.1 percent, to US$3.36 in afternoon trading in the Unites States, while Toyota's U.S. shares rose 80 cents, or 1.2 percent, to US$66.68
Herald Sun
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