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Posted: Wednesday, 23 July 2008 9:04AM

Toyota Tops GM In Sales

Southfield (WWJ)  -- There's still a half year to go, but Toyota beat General Motors in worldwide sales in the first half of the year.

Toyota said Wednesday it sold 4.8 million vehicles between January and June, up 2 percent from the same period a year ago.

Automakers have been struggling lately to maintain sales momentum amid soaring motor fuel prices. Toyota has a reputation for high-mileage cars such as its hit gasoline-electric Prius hybrid, but it is still facing the challenge of sluggish auto markets in the U.S., Europe and Japan.

Expectations have been high that the pace of Toyota's recent global booming sales growth will diminish despite stronger sales in emerging markets, such as India.

Toyota has said it expects to sell 9.85 million vehicles worldwide this year, up 5 percent from last year. But it may lower that target when it updates its strategy next month.

General Motors Corp. says it sold 4.5 million vehicles in the same period, or about 300,000 less than Toyota.

GM says its total sales fell 3 percent in the first half of the year due to economic pressures and labor disruptions in the U.S. market. But the automaker says it posted record-breaking sales in other regions, including Latin America, Asia and Europe.

"Our sales performance around the world shows that we are moving quickly to respond to new market opportunities around the globe and are meeting customer needs with fuel-efficient products that offer compelling design and great value," Jonathan Browning, vice president, global sales, service and marketing, said in a statement released Wednesday.  "Our global sales performance during the second quarter was fueled by Chevrolet globally and Wuling and GM Daewoo regionally.

GM said it is on pace to sell more than nine million vehicles this year.

GM narrowly beat Toyota in total sales last year to retain the title of the world's largest automaker by sales.


© MMVIII WWJ Radio, All Rights Reserved. The Associated Press contributed to this report.
 
 
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