Toyota outsells GM globally in Q1

[jamz]

Filed under: GM, Toyota, Earnings/Financials


Both General Motors and Toyota have released their global sales figures for the first quarter of 2008, and for those who like to keep tabs on which automaker is the biggest in the world when it comes to sales, we have new news. The last time we convened for this discussion, both GM and Toyota were in a dead heat for the title of World's Best-Selling Automaker in 2007, though GM was eventually found to have sold more by the slimmest of margins. It seems that this time Toyota has firmly taken the lead in Q1 2008, selling 2.41 million vehicles worldwide to GM's 2.25 million. The Detroit News notes that Toyota also outsold GM in Q1 2007 before GM went on to win the year outright, which just goes to show that things can change over the next nine months. GM is actually enjoying record sales outside of the U.S. in the Asia Pacific region, Europe and Latin American, Africa and the Middle East. Its own domestic market is what continues to drag down GM's numbers, with sales off 10% in the U.S. through March. Sales in the U.S. for Toyota through March were also down, but only by 4.4%. We reiterate like we always do when talk of this global sales crown comes up - it means very little in the grand scheme of things who sells more cars globally. But titles like this can be used to good effect in marketing and for bolstering an automaker's internal morale, so don't expect either one to admit they don't want the mantle of World's Best-Selling Automaker.

[Source: The Detroit News]
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