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Toyota Takes Top Spot Worldwide

By Joe Benton
ConsumerAffairs.com

April 24, 2007

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Toyota Motor Corp. took over the No. 1 spot as the best-selling automaker during the first three months of 2007, selling more cars and trucks worldwide than General Motors Corp, for the first time.

The steady rise in market share for the Japanese automaker comes as Toyota’s global sales for the January-March quarter rose 9 percent to a record 2.35 million.

GM reported last week that its global sales rose on 3 percent to 2.26 million vehicles.

Toyota's climb to the top was helped by a shift in the U.S. market away from SUVs and toward more fuel-efficient vehicles.

Sales of the Camry and Corolla, rose more than 12 percent last year in the U.S. and are increasing at a double-digit rate again this year. Toyota has won fans around the world with affordable cars seen as reliable, durable and fuel-efficient.

Toyota’s share of the U.S. market climbed to 16 percent in March, just behind GM’s 22 percent and Ford's 17 percent.

GM executives tried to hold onto the top spot but GM has cut back on North America production, moved away from incentives and reduced fleet sales, all in a effort to stabilize the company’s business.

“Obviously, the news wasn’t what we wanted to hear, but at the same time, it doesn’t distract us from the business we have at hand and that’s designing, building and selling the best cars and trucks for our customers all around the world,” said GM spokesman John McDonald.

While U.S. sales have suffered, GM showed strong growth in the first quarter in three of its regional business units: Asia/Pacific, Europe and Latin America, Africa and the Middle East.

While Toyota appears on course to pass General Motors for the entire year, GM’s moves to boost overseas production could keep the automaker in the running. The company’s sales in China jumped 32 percent last year and GM is also building a new factory in India.

Senior management at Toyota is concerned about a possible political backlash in the U.S., even though American consumers continue to flock to the automaker.

Earlier this month, Toyota promoted American James Press, president of the automaker’s North American division, to the inner circle of the industrial giant.

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