Toyota upstages GM as world's no.1 automaker

Toyota snatched the 'world no. 1 automaker' crown away from General Motors (GM) with the latter's 2008 sales volume falling behind that of the Japanese major. This is the first time since early 1930s that GM has had to relinquish its Numero no position in the global automotive industry. GM sales fell by around 11% in 2008 to 8.35 million vehicles, about 620,000 fewer than Toyota’s 8.97 million vehicles. GM had been the undisputed champion among global automakers since it overtook Ford in 1931, two years before Toyota began making cars in Japan. The two companies had traded places from one quarter to the next in recent years. GM was widely expected to slip to the second spot in 2007 but held off the challenge from Toyota by about 3,000 vehicles.