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GM retakes sales lead over Toyota GM retakes sales lead over Toyota
(10 minutes later)
Global sales at Japanese carmaker Toyota have been briefly overtaken by US rival General Motors, figures show.Global sales at Japanese carmaker Toyota have been briefly overtaken by US rival General Motors, figures show.
Troubled GM briefly took back its crown as world's top carmaker after selling 2.41 million vehicles from April to June, according to company figures.Troubled GM briefly took back its crown as world's top carmaker after selling 2.41 million vehicles from April to June, according to company figures.
Toyota global sales hit 2.37 million in the same period, but still outsold GM in the first six months of the year.Toyota global sales hit 2.37 million in the same period, but still outsold GM in the first six months of the year.
Japanese car firms have been boosting sales in the US, at the expense of their less "green" American rivals.Japanese car firms have been boosting sales in the US, at the expense of their less "green" American rivals.
Tokyo-based Toyota overtook GM as the world's largest carmaker in terms of volume in the first quarter of the year and expects to sell 9.34 million units in 2007, compared with GM is forecasts of 9.2 million.Tokyo-based Toyota overtook GM as the world's largest carmaker in terms of volume in the first quarter of the year and expects to sell 9.34 million units in 2007, compared with GM is forecasts of 9.2 million.
US declineUS decline
GM continued to lose customers in the US - the world's largest car market - with sales down 7% in the region over the past three monthsGM continued to lose customers in the US - the world's largest car market - with sales down 7% in the region over the past three months
High fuel prices have driven Americans away from its trucks and sports utility vehicles and the Detroit-based firm has been forced to cut thousands of jobs and close factories in an effort to turn around the flagging business.High fuel prices have driven Americans away from its trucks and sports utility vehicles and the Detroit-based firm has been forced to cut thousands of jobs and close factories in an effort to turn around the flagging business.
Meanwhile, Toyota has enjoyed strong US sales on the back of the success of its pioneering petrol/electricity hybrid, the Prius, and new models of popular car ranges like the Camry Sedan and Corolla.Meanwhile, Toyota has enjoyed strong US sales on the back of the success of its pioneering petrol/electricity hybrid, the Prius, and new models of popular car ranges like the Camry Sedan and Corolla.
But outside its home market, the popularity of GM models is rising, particularly in Latin America, Africa and the Middle East.But outside its home market, the popularity of GM models is rising, particularly in Latin America, Africa and the Middle East.
GM has announced plans to invest $500m in Brazil and Argentina to develop smaller vehicles for the region and other emerging markets. GM has announced plans to invest $500m (£243.8m) in Brazil and Argentina to develop smaller vehicles for the region and other emerging markets.