GM Surpasses Toyota as World’s Largest Automaker By Sales on Japan Quake

[the_yellow_dart]

Link

General Motors Co. (GM) outsold Toyota Motor Corp. (7203) globally in the first six months to become the world’s largest automaker after the record March earthquake disrupted production in Japan.

GM sales rose 8.9 percent to 4.536 million units in the half-year ended June 30, the Detroit-based automaker said in a statement yesterday. That compares with 4.13 million units at second-ranked Volkswagen AG (VOW) and 3.71 million units for Toyota, including its luxury Lexus marque and affiliates Daihatsu Motor Co. and Hino Motors Ltd. (7205), according to statements by the companies.

Output at the Toyota City, Japan-based automaker slumped 23 percent to 3.37 million units in the half-year after the company halted production following the magnitude-9 temblor and tsunami in March. Toyota expects to enter a production recovery phase in September, one month earlier than previously announced, it said Aug. 2.

“Even if Toyota recovers production, it will take another few more months for sales to actually recover” as it takes time to deliver vehicles to dealers, said Takeshi Miyao, an analyst at consulting company Carnorama in Tokyo. “Toyota’s sales may trail behind Volkswagen in the full-year as well.”

GM’s U.S. sales climbed to 669,065 vehicles in the second quarter, according to industry researcher Autodata Corp. The Chevrolet Cruze was the top-selling car in the market in June and the Chevy Silverado full-size pickup remained the second- most popular vehicle, behind only Ford Motor Co.’s F-Series line.

Hyundai Motor Co. (005380), South Korea’s largest automaker, had a 11 percent jump in first-half deliveries of 1.96 million units.

Toyota shares fell 3.8 percent to 3,020 yen as of the 11:30 a.m. trading break in Tokyo. The benchmark Nikkei 225 Stock Average declined 3.4 percent.

[Drew Dowdell]

:-)

[daves87rs]

About time.

[the_yellow_dart]

Number three for a reason!

[Camino LS6]

I always said this would happen. Even without the quake, there was no way Toyota was holding onto the #1 spot.

[Z-06]

Profitability > Sales Figures. I hope GM realizes that. This is just a gravy.

[67impss]

VW sure is quite close to GM looks like they're on track, Hope GM can stave them off!

[Drew Dowdell]

Autoblog is giving the earthquake all the blame..... in reality Toyota's sales started dropping well befor that.

[hyperv6]

While the earthquake did effect some things I wonder how long they keep trying to blame it. There are many other factors involved and the quake will run out of time. But the owned media will keep pressing on with it.

GM is on the right track but they still have a lot more work to do. companies like VW continue to work hard and gain greater market shares. GM can remain #1 but they will have to fight for it.

[Camino LS6]

I think #1 will be in contention for quite some time. GM's 75 year record is in no danger of ever falling.

The converse, of course, is also true. GM is unlikely to hold on to this status permanently ever again.

[riviera74]

GM as #1 in sales is OK I guess. I would rather see GM as #1 in profits and positive cash flow, which are actually beneficial. #1 in sales is no longer the big deal it once was, especially if you needed a lot of rebates and cash back to move the metal...... like four or five years ago.

[the_yellow_dart]

This news makes me happy not because GM is #1, but because Toyota no longer is.

It's like seeing the pompous schoolyard bully cry.

[USA-1]

Very True! The earthquake is just an excuse for Toyota to lose the #1 spot, but we all know the truth. Long live GM!!

I always said this would happen. Even without the quake, there was no way Toyota was holding onto the #1 spot.

[ZL-1]

Edited August 25, 2011 by ZL-1

[Drew Dowdell]

Their market share started declining a few months before the earthquake.