SOURCE: Industrial Info Resources

May 13, 2008 05:00 ET

Toyota Wrestles World Sales Lead From GM, but Predicts Decline in Profit by Year's End

SUGAR LAND, TX--(Marketwire - May 13, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- In July 2007, foreign automakers took control of the monthly sales numbers in the United States for the first time in history. In August, the Detroit Three fought back, mainly through a "one-time" sell-off of vehicles to rental companies and regained the lead in total sales. However, even though the Detroit Three managed to stave off the foreign sales invasion, it was only a matter of time before foreign automakers took firm control of the American automotive sales landscape. The writing was on the wall. As of the end of the first quarter of 2008, Toyota Motor Corporation (NYSE:TM) (Toyota City, Aichi) took the worldwide sales lead from General Motors Corporation (NYSE:GM) (Detroit, Michigan) with a surge of growth in both China and Europe, while GM saw its North American sales rapidly decline.

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