The Hindu Business Line : Toyota's global sales down 4 per cent in 2008

TOKYO: Toyota said on Tuesday it sold 8.972 million vehicles worldwide last year, down 4 per cent, as a global slump in new car sales overshadowed its race to overtake General Motors as the world's biggest automaker.

Detroit-based General Motors is scheduled to give its global vehicles sales tally tomorrow.

For 2007, Toyota sold 9.366 million vehicles globally, about 3,000 vehicles fewer than GM and just barely allowing the US automaker to retain its crown. Toyota is financially in far better shape than GM, which had been on the brink of collapse until sec uring a multi-billion dollar government bailout. But Toyota has also seen its once booming fortunes shift into reverse as the global recession, especially in the key North American market, hits sales.

Toyota is forecasting a 150 billion yen ($1.69 billion) operating loss for the fiscal year ending March 31 -- its first such red ink in 70 years. For the first half of this year, GM, pummelled by falling US sales and high gas prices, lost the global sal es lead to Toyota, by about 277,500 vehicles. For that period, Toyota's global sales rose 2 per cent from the same period the year before, while GM's sales fell 3 per cent. - PTI

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