Toyota overtakes GM in first-half global sales

23 July 2008

Mumbai: Japan's Toyota Motor Corporation with first-half 2008 global sales of 4.8 million vehicles beat US rival General Motors Corporation, which reported a fall at 4.54 million vehicles in the first six months of the year.

Toyota sales, including those at mini-vehicle unit Daihatsu Motor Co and truck unit Hino Motors Ltd, rose 2.2 per cent to 4.8 million in the first six months of 2008 while Detroit-based GM, hurt by a large decline in its North American sales, said global vehicle sales fell 3 per cent to 4.54 million in the first half as higher sales in Europe, Asia and Latin America failed to offset a 15 per cent decline in North America.

GM's truck and SUV sales have been under pressure with rising gas prices, and that has caused the real dent in GM vehicle sales, say analysts.

Both GM and Toyota have cut US truck production in response to weak US auto sales and a consumer shift from low-mileage vehicles to fuel-efficient vehicles amidst rising oil prices.

GM particularly has been hit hard as the high-margin SUVs account for a majority of the automaker's sales.

Toyota, which has been able to weather the downturn because of its strong car line-up, plans to cut its global sales target for 2008.