Toyota tops GM as No.1 automaker
GM was world's top automaker for 77 years, now the honor belongs to Toyota with nearly 9 million unit sales for 2008
By Alex Ricciuti
January 21, 2009 4:38 PM
Filed Under: American, Corporate/Financial, General Motors, Industry, Japanese, Production, Toyota
For 77 years, dating back to the Depression days of the early 30s, GM was the world largest automaker. It no longer is.
In 2008, Toyota finally topped its arch-rival.
GM has announced that its global vehicle sales last year were 8.35 million, down almost 11 percent from 2007. Toyota's total sales were 8.972 million for 2008, down 4 percent over the previous year.
GM has been downplaying Toyota's success for years. But now there are only admissions to make.
GM's Chief Operation Officer Fritz Henderson said of Toyota: "They passed us in terms of market cap, profitability, cash flow long ago."
Translation: We've been beat for a long time. This isn't news.
Henderson goes on to say," I focus on the sales and how to make us successful. ...Honestly this is not a measure that I pay a lot of attention to."
With GM sales still plummeting, Henderson may not be focusing enough. And he may want to ask himself who GM is losing market share to.
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Comments
Toyota does build quality cars, but every time I have tried one, I can't stand it for some reason. They are not built for the driving enthusiast.
Sad but true.
I've never found them interesting. For me, it would be like driving a toaster.
Forgive me for this long story, but it's a clear reason why GM is on government life support. I own a 99 Camry. It's not the fastest or sportiest car I could have bought, but after ten years I still love it and have no intention of trading it in. The ride quality, interior quality, low noise levels, ergonomics, efficiency, etc., the Japanese get all the details right. There have been minor incidents, like that darn squirrel that chewed on one of my engine wires, but otherwise it has had no major problems EVER.
Now, what do you get with domestic cars? Overpowered gas hogs that fall apart. Growing up, my parents always bought GM cars. Three GM cars -- all three were junk. Car 1: An '80 Buick Skylark - the floor rusted through after seven years. My old man got one more year out it by putting sheets of plywood on the floor (hey, we were poor). Car 2: an '88 GMC van. The engine block cracked after one year. GM replaced it. The second engine blew up seven years later. Car 3: Another GMC van '95 (don't ask me why). About three years in, transmission problems arose the rear differential. When we drove it, it sounded like grinding metal. The van made no less than three visits to the GMC dealer for major repair work over the next several years, each time the same problem. After failing to fix it right the third time, the dealer, a certified GMC truck specialist, explained that it was a design flaw in GM's trucks that they couldn't correct. They ended up jerry-rigging some other model's rear differential onto our truck to get it working adequately.
About five years after I bought my car, my parents finally gave up on GM. So what do they drive now? Two Toyotas. Go figure.
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