Toyota has been declared the world's biggest carmaker after a slot of 77 year unbroken position held by GM. Its much stronger global presence has resulted in its win. General Motors had earlier confused the car industry experts and the reason quoted was that it had been important for it to keep the top slot for corporate pride.
However GM shares declined over the past couple of years and at present it has a market capitalization of just under $2 billion. Toyota has a market value of about $117 billion, and like all major carmakers, it is suffering from the doleful state of the market. It has also warned that it will record its first operating loss for the current financial year.
Last year GM remained in the global top slot by a tiny margin. It sold 9.369 million vehicles, while Toyota sold about 9.366 million vehicles.
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