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Toyota retakes world auto sales crown from GM

Japanese company Toyota has dethroned American giant General Motors (GM) as the world’s top-selling automaker. Toyota sold 9.7 million cars and trucks worldwide in 2012, although it’s still counting, while GM sold 9.29 million. GM’s global sales were up 2.9 per cent last year while Toyota sales rose 22 per cent. GM narrowly beat Germany’s fast-growing Volkswagen for second place in 2012.

GM was the world’s top-selling car maker for more than seven decades before losing the title to Toyota in 2008. But GM retook the sales crown in 2011 when Toyota’s factories were slowed by an earthquake and tsunami in Japan. The disaster left Toyota dealers with few cars to sell but the company has since recovered. Toyota’s comeback is only part of the story, said Jeff Schuster, senior vice president of forecasting for LMC Automotive, an industry forecasting firm.  The company also has rolled out new vehicles, such as the revamped midsize Camry, the most popular vehicle in the USA. Schuster expects Toyota to keep the lead over GM this year as it launches a new Corolla. ‘I think that’s going to be enough to keep them in their position,’ he said.
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