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Toyota Takes over Auto Industry, Dethrones General Motors
The Japanese car maker Toyota Motor Corporation reigns as king of sales in the global auto industry sector stripping General Motors of Detroit, USA its crown that it held for 77 years.
Sales records show that Toyota sold 8.972 million cars and trucks in 2008 globally ahead by as much as 616000 units of GM’s final count of 8.356 million vehicles.
The transfer of glory lacks luster though as every car manufacturer is hoping for recovery and better picture in their sector.
The global financial crisis played a major role in the race. The global sales of the auto industry drop by 3.5 million vehicles. Toyota suffered a 4% drop in sales while GM (gmautoblog.com) had an 11% decline.