Wednesday, January 21, 2009

Toyota is Number 1 in Global Auto Sales Race, overtaking General Motors after GM's 77 year reign as the global sales leader...


Toyota Motor has overtaken General Motors as the global sales leader, after a 77 year dominance by General Motors as the top automaker in the world. GM fell by 616,000 vehicles a huge number considering its market dominance over the last 77 years even after declining sales have hit automakers across the globe.

Although Toyota posted its first operating loss in over 70 years as it has been hit by the global financial crisis effecting all automakers. General Motors is reeling from spiraling cost associated with bloated capacity and other legacy issues that have reeked havoc on the company balance sheet. General Motors announced that it is expecting its next round of Federal Bailout money ($5.4 Billion) and stated at the Automotive World Congress in Detroit today that if it doesn't receive the second installment in the next few days that the company is in danger of running out of cash ( GM has been promised to loan the company $13.4 Billion for 3 years).

Enjoy Today!

That Car Guy

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