Toyota beats GM to remain world’s largest automaker for third year in 2010

Toyota

Toyota has edged out GM to once again retain the title of world’s largest automaker with 2010 deliveries numbering 8.42 million units. GM reported 8.39 deliveries in 2010. All this despite the fact that Toyota’s sales slowed .4% in the US and the company’s 19% growth in China trailed GM’s 29% increase.

“Toyota’s sales in Asia are growing, but in China it’s clearly lagging behind GM and other market leaders,” said Satoru Takada, a Tokyo-based analyst at TIW Inc. “In the U.S., with the recalls, a lack of splashy new models and the top-selling Camry at the end of its cycle, the result is not surprising.”

Volkswagen AG, the world’s third largest manufacturer sold 7.14 million vehicles in 2010, and forecasts growth of 5% for 2011. It is well known to industry followers that VW has set Toyota’s top spot in its sites, and plans to overtake the company as world’s largest manufacturer by volume.

– By: Stephen Calogera

Source: Bloomberg