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Toyota Poised to Overtake GM

Plans to build 9.95 million vehicles, widen lead as largest automaker

By Jim O'Neill,  Newser User

Posted Dec 25, 2007 8:00 AM CST
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(Newser) – Toyota, the most profitable automaker in the world, says it will increase production by 5% to a record 9.95 million vehicles in 2008, opening up a lead over General Motors, Reuters reports. Toyota, which sold 9.36 million vehicles in 2007, also expects sales to increase 5% in 2008 to 9.85 million units.

GM hasn’t released year-end sales figures, but estimates selling 9.26 million vehicles, ending its 70-year-reign as largest automaker. The two companies are in a nip-and-tuck battle for the top spot this year—Toyota led for the first six months, but GM took the lead in September. Toyota is hoping to surpass GM’s 30-year-old record for sales of 9.55 million vehicles.

Toyota Motor Corp. President Katsuaki Watanabe speaks to reporters during the annual year-end press conference in Nagoya, central Japan, Tuesday, Dec. 25, 2007. Toyota, in a neck-and-neck race that could dethrone General Motors as the world's top automaker this year, said Tuesday it plans to sell 9.85 million vehicles...
Toyota Motor Corp. President Katsuaki Watanabe speaks to reporters during the annual year-end press conference in Nagoya, central Japan, Tuesday, Dec. 25, 2007. Toyota, in a neck-and-neck race that could...   (Associated Press)
Toyota Motor Corp. President Katsuaki Watanabe speaks as he introduces the new Corolla Rumion, a compact hatchback model, during a news conference in Tokyo Tuesday, Oct. 9, 2007. (AP Photo/Shizuo Kambayashi)
Toyota Motor Corp. President Katsuaki Watanabe speaks as he introduces the new "Corolla Rumion," a compact hatchback model, during a news conference in Tokyo Tuesday, Oct. 9, 2007. (AP Photo/Shizuo Kambayashi)   (Associated Press)
Unsold 2008 Tundra pickup trucks sit in a long row at a Toyota dealership in the southeast Denver suburb of Centennial, Colo. in this Nov. 4, 2007. The full-size pickup Toyota Tundra is Motor Trend's 2008 truck of the year, the magazine announced Tuesday. (AP Photo/David Zalubowski, File)
Unsold 2008 Tundra pickup trucks sit in a long row at a Toyota dealership in the southeast Denver suburb of Centennial, Colo. in this Nov. 4, 2007. The full-size pickup Toyota Tundra is Motor Trend's...   (Associated Press)
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