Toyota sold more cars worldwide last year than any other automaker. By several measures - market capitalization, profitability and number of cars produced, for instance -- the Japanese company became the world's largest automaker at the end of 2007. But General Motors had managed to hold onto the title as measured by number of cars sold, until now.
When GM reported its final tally for 2008 this morning, the AP reports, America's largest automaker fell short of Japan's in total number of cars sold. "GM says it sold 8.356 million cars and trucks in 2008, falling about 616,000 vehicles short of Toyota's total of 8.972 million."
CNN Money adds, "GM reported that global sales plunged 10.8% for the year," whereas Toyota's sales "fell 4% in 2008."
GM officials placed little importance on the numbers. "They passed us in terms of market cap, profitability, cash flow long ago," GM president and chief operations officer Fritz Henderson told the Detroit Free Press. "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."
Toyota, however, can take little pride in the title today. The company posted its first operating loss in more than 70 years in 2008.
In response, Toyota has unveiled several new incentives meant to lure buyers back to dealerships - even a cash-back rebate on the Prius. Research the best car deals with U.S. News' car rankings and reviews.
