GM poised to take back world’s No. 1 automaker from Toyota

GM Renaissance Center

General Motors Co. is on its way to take back the title of the world’s largest automaker from Toyota, which it lost to the Japanese automaker in 2008. Last year, GM nearly beat Toyota, finishing just 28,000 units behind the Japanese giant.

During the first quarter, the Detroit automaker moved ahead of Toyota, selling 2.2 million units, an increase of 11 percent. Toyota dropped to 1.8 million units, putting the company in third place behind GM and Volkswagen AG. FoMoCo held on to the No. 4 spot in global sales with 1.4 million units sold.

The Japanese quake is mainly to blame for Toyota’s losses.

Neither GM or Toyota had a comment on the possibility that GM could overtake Toyota again.

“Our focus is building and selling the best vehicles in the world and taking care of our customers, not a sales race,” said GM spokesman Tom Henderson.

– By: Omar Rana

Source: CNNMoney