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SLUMPING CAR SALES
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Toyota Tops GM In Sales So Far In 2008

Toyota Leads By About 300,000 Cars

POSTED: 8:29 am EDT July 23, 2008
UPDATED: 12:30 pm EDT July 23, 2008

Toyota beat General Motors in worldwide sales in the first half of the year.

Toyota Motor Corp. said Wednesday it sold 4.8 million vehicles between January and June, up 2 percent from the same period a year ago. General Motors Corp. reported it sold 4.5 million vehicles in the same period, or about 300,000 less than Toyota.

GM said 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 said it posted record-breaking sales in other regions, including Latin America, Asia and Europe as sales grew by 209,000 cars outside of North America.

"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 today. "Our global sales performance during the second quarter was fueled by Chevrolet globally and Wuling and GM Daewoo regionally."

GM narrowly beat Toyota in total sales last year to retain the title of the world's largest automaker by sales. GM has sold more than 9 million cars each of the last three years.

The world's automakers have been struggling lately to maintain sales momentum amid soaring gas prices.

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.

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