Toyota Regains Global Top Spot
Once again, Toyota Motor Corporation bounced back from safety recalls and natural disasters, selling 4.97 million vehicles globally in the first half of the year to retake its crown as the world’s top automaker from General Motors Corporation.
From available records, the Japanese company sold about 300,000 more cars and trucks than GM did in the first half of the year, a lead large enough that it will be difficult for GM to catch Toyota in the final six months of 2012.
On its part, GM said it sold 4.67 million vehicles during the first half. Both companies released their numbers September 5. For Toyota Motor Corp., the numbers underline a powerful rebound from a period of dismal sales, and the resilience of its brand as it gains traction in new markets such as China and Southeast Asia, while clawing back lost market share in the U.S.
Both companies have said in the past that they don’t care about the global sales leadership and are focusing on making profits. But the crown is a matter of corporate pride for both automakers. GM doesn’t plan to drop out of the race, though.
The company’s sales and market share grew in China, and Chevrolet, its largest brand, has seen record growth for seven straight quarters, spokesman Jim Cain said. GM sales should rise because 70 percent of its U.S. models will be refurbished or all-new in the next two years, said Cain.
Toyota’s production was hit by the earthquake and tsunami in northeastern Japan last year and then by flooding in Thailand, an important production base for the automaker. But the company’s factories and sales recovered faster than expected, making it very hard for GM to catch Toyota between now and the end of the year, said Jeff Schuster, Senior Vice President of Forecasting at the LMC Automotive consulting firm in Troy, MI.
Also, GM has a bigger presence than Toyota in Europe, where auto sales have fallen dramatically, and China, where the economy is starting to slow, Schuster said.
GM was top spot in the world auto sales last year on strong performances in the U.S. and China, its two biggest markets. The Detroit Company held the global sales crown for more than seven decades before losing it to Toyota in 2008 as GM’s sales tanked while it headed toward financial ruin. In 2009, GM filed for bankruptcy protection, needing a U.S. government bailout to survive.