Toyota sells record vehicles in 1Q, ahead of GM

04/24/07 - newratings.com

LONDON, April 24 (newratings.com) – Toyota Motor Corp (TOM) Tuesday announced that its first-quarter sales had surged to 2.348 million vehicles, making the Japanese company the world’s biggest carmaker ahead of US rival General Motors.

General Motors sold a total of 2.26 million cars and small trucks in the first three months of 2007. This is the first time that Toyota Motors has beaten General Motors in terms of global sales on a quarterly basis, the Japanese company’s spokesman Satoshi Yamaguchi stated. Toyota Motors’ global output had surged by 10% to 9.018 million vehicles in 2006 when General Motors produced a total of 9.18 million vehicles across the globe. Toyota Motors’ market share in the US stood at 16% in the January-March period, as compared to General Motors’ 22%.