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Tue 24 April 2007 View all news
Toyota has overtaken General Motors to become the world's leading seller of cars for the first time. The Japanese manufacturer reported sales of 2.35m vehicles in the first quarter of 2007 (up 9%) compared with 2.26m (up 3%) sold by GM.
Toyota appears to be on course to reach its global sales target of 9.34m vehicles in 2007. The rise in sales is mainly due to rising exports as sales in its stagnant domestic market fell again. Toyota has been eroding GM's lead in the US market as American consumers, influenced by rising fuel costs, are switching to more efficient vehicles where Toyota has gained a lead. GM, however, is fighting back with new fuel-efficient models - including hybrid vehicles - of its own. Other manufacturers have also been hit by the shrinking Japanese market. Nissan said it would cut 1,500 jobs in Japan, the first time it has reduced local staff in eight years, because of falling sales.
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