Volkswagen has topped Toyota as the world’s most valuable automaker. As Toyota’s share hit an all 12 month low, Volkswagen is now the most valuable car maker worth $123 billion – Toyota is now worth $108 billion.
According to a report by Japanese buisness daily Nikkei, Toyota is likely to post a 40 percet drop in annual profits, missing its profit targets due to weak North American sales and slow growth in China.
Toyota’s North American sales dropped more than 30 percent in September. The automaker is now offering zero percent interest financing on 11 models through Nov. 3rd.
Source: Automotive News (Subscription Required)