GM Reclaims World's No.1 Spot
2011 disasters knock Toyota into 3rd place
By Rob Quinn, Newser Staff
Posted Jan 20, 2012 4:05 AM CST
Updated Jan 20, 2012 4:57 AM CST
GM's Chevrolet brand set a sales record of 4.76 million vehicles last year.   (AP Photo/Paul Sakuma)

(Newser) – General Motors is back on top of the world less than three years after its bankruptcy and restructuring. The company is once again the world's top-selling automaker, with 9 million sales worldwide in 2011, almost a million more than second-placed Volkswagen. Toyota, which took top spot from GM in 2008, fell into third place after production cuts caused by the earthquake and tsunami in Japan and flooding in Thailand.

GM's turnaround stems from its "ability to introduce competitive products and do it consistently," an industry analyst tells the Washington Post. Its best-selling vehicle worldwide was the compact Cruze. The Sunshine minivan came in second thanks to strong sales in China. But despite GM's success, the US government has only recovered $23 billion of the $50 billion it invested to save the company. The government owns around a third of GM's common stock and share prices will have to rise to $54 from the current $25 for it to recover its full investment.

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Showing 3 of 11 comments
Disillusioned
Jan 20, 2012 11:08 AM CST
And what did GM do for the areas it's bankruptcy left suffering?????????? It left buildings that had to be torn down, under them 30 or more years of pollution with some of the worlds most deadly carcinogens which the local Gov (tax payers) Fed Gov (more tax payers) had to pay and is still paying to clean up What did GM contribute??? More empty buildings and nothing else Screw Big Biz
Fascist_Jack
Jan 20, 2012 8:37 AM CST
"Toyota, which took top spot from GM in 2008, fell into third place after production cuts caused by the earthquake and tsunami in Japan and flooding in Thailand." Declaring yourself #1, when one of your main competitors is out sick, is kind of weak, isn't it?
KeyserSoze
Jan 20, 2012 8:14 AM CST
This is how its done, Mitt. Of course you wouldnt have made millions for yourself @ Bain, but the American people are the big winners in this venture