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Struggling GM Still On TopStory by Jeff Feldsher - October 24,2007Automotive giants GM and Toyota are once again battling for global sales supremacy, with each manufacturer topping the 7 million mark through the first three quarters of this year. Even though GM has had to cut more than 34,000 jobs and close 12 plants in North America, they have to gone on to record sales this year slightly eclipsing Toyota, selling a whopping 2.38 million vehicles in the third quarter alone, a 4% increase over the same period last year.
Apparently recent financial woes have GM un-phased; however losing over 12 billion dollars in the last two years alone may require even further streamlining.
Meanwhile Toyota is enjoying increased profitability, selling 7.05 million car and trucks this year, including Daihatsu Motor Company and Hino Motors LTD vehicle sales in which Toyota holds a majority stake. The Japanese behemoth is estimated to be worth $190 billion dollars, with sales up 7% this year on the strength of European and Chinese markets.
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