Tokyo/Washington (ANTARA News) - Japanese automaker Toyota Motor Corp has for the first time topped US giant General Motors (GM) Corp as the world`s largest automaker, on Tuesday reporting higher sales figures for the first three months of 2007.
Toyota said first-quarter sales rose to a record 2.35 million vehicles, a rise of 9.2 per cent on the year-earlier period. Detroit-based GM last week said sales climbed 3.3 per cent to 2.26 million units, also a record.
Most analysts expect Toyota to be the world`s top automaker by the end of 2007, ending GM`s 76-year dominance of the global market. The Toyota City-based company has projected sales of 9.34 million vehicles for the year, a 6-per-cent increase on 2006, while GM is cutting back production in an effort to return to profitability.
Asian automakers have continued to make inroads into the global market as the so-called Big Three in the US - GM, Ford Motor Co and Chrysler Group - have announced plant closures and worker lay-offs to stem losses.
Domestic sales for major Japanese carmakers fell in the fiscal year 2006, but Toyota and Honda Motor Co saw their exports and global output rise, the companies announced Tuesday. Nissan Motor Co struggled, however, with declining exports and production.
Including subsidiaries Daihatsu Motor Co and Hino Motors Ltd, Toyota`s sales in its home market fell to 2.33 million units in fiscal 2006, which ended March 31, a drop of 2.7 per cent from the previous year, but its exports surged 22.8 per cent to 2.8 million units.
Japan`s top automaker also increased its global production by 7.3 per cent to 9.01 million units. However, for March, Toyota`s global output dropped 0.2 per cent from the same month a year ago to 861,951 units.
Honda`s domestic sales for fiscal 2006 dipped 2.6 per cent to 691,529 units, but exports soared 19.7 per cent to 645,203 units. Honda`s global output rose 7.5 per cent to a record 3.7 million units.
In March alone, Honda`s global output expanded 5.7 per cent to 356,031 units from the same month a year before, but its domestic sales fell 9.4 per cent to 89,668 units, Honda said.
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