Toyota Overtakes GM In 2008 Chinese Sales
10-22-08, 07:53 PM
#1
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Toyota Overtakes GM In 2008 Chinese Sales
http://www.bloomberg.com/apps/news?pid=20601103
Toyota Overtakes GM In 2008 Chinese Sales
Toyota Motor Corp China car sales beat General Motors Corps in the first nine months of the year as the Japanese company threatens to end GM's 77-year reign as the world's largest automaker.
Toyota's two Chinese ventures boosted nine-month sales 30 percent to 407,427 cars and sport-utility vehicles. GM's car sales were little changed at 373,945, according to Bloomberg calculations based on data issued by the China Association of Automobile Manufacturers.
The Japanese automaker boosted sales of Corollas and other models at about triple the pace of the overall market after opening a new plant last year. Detroit-based GM is counting on overseas growth as the credit crunch has driven U.S. sales down 18 percent this year and the company's shares to a 58-year low.
Toyota Overtakes GM In 2008 Chinese Sales
Toyota Motor Corp China car sales beat General Motors Corps in the first nine months of the year as the Japanese company threatens to end GM's 77-year reign as the world's largest automaker.
Toyota's two Chinese ventures boosted nine-month sales 30 percent to 407,427 cars and sport-utility vehicles. GM's car sales were little changed at 373,945, according to Bloomberg calculations based on data issued by the China Association of Automobile Manufacturers.
The Japanese automaker boosted sales of Corollas and other models at about triple the pace of the overall market after opening a new plant last year. Detroit-based GM is counting on overseas growth as the credit crunch has driven U.S. sales down 18 percent this year and the company's shares to a 58-year low.
10-22-08, 08:56 PM
#3
Lexus Fanatic
China was GM's last hope. They were selling more cars in china than they do in the US. Apparently the chinese LOVE GM products. The people from china in the "saving GM" documentary kept saying that GM was top quality. I guess relative to the crappy products that china puts out
10-22-08, 09:55 PM
#5
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Go Toyota! I'm sure the Chinese will come to realize that Toyota is a better product than GM. I really feel bad for GM but they've done it to themselves and have no one else to blame...Maybe GM stand for Goodbye Motors...
10-23-08, 08:49 AM
#6
China was GM's last hope. They were selling more cars in china than they do in the US. Apparently the chinese LOVE GM products. The people from china in the "saving GM" documentary kept saying that GM was top quality. I guess relative to the crappy products that china puts out
The correct version should be: GM is selling more Buicks in China than US.
Based on what Buick is offering in China and what it is offering in the US I am not surprised, not at all.
10-23-08, 01:24 PM
#7
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Yep, China is all about those Buicks. And vw, Audi absolutely rules the market. GM may be easy to overtake, but I doubt Porsche/VW AG wil be as easy for Toyota. 10-15 years from now it'll be Toyota v. the Volkswagen Group for worldwide supremeacy, mark my words.
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10-23-08, 02:14 PM
#8
1. Toyota is gaining much faster in China than VW is gaining (is it even gaining?) here in the US.
2. Toyota has a head start in India which might and imo will become the 3rd largest auto market in the world.
3. European market, VW's backyard, has already reach its max potential so I think it's going to be all down hill from this point on.
10-23-08, 02:44 PM
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GM's lineup is pretty weak though. Two boring sedans and one boring SUV. For a while there they had more SUVs than sedans. Old people don't wanna SUVs. They want hybrids now. I see old people all the time in the Prius.
10-23-08, 09:35 PM
#10
Lexus Fanatic
GM will never learn. I dont see how such a large company could be run into the ground. Its like a plane crashing and the pilot is asleep and wont pull up to avoid crashing. they did it to themselves. later GM.
Last edited by I8ABMR; 10-23-08 at 09:50 PM.
10-23-08, 09:37 PM
#11
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I couldnt care less about the american car companies, their incompetence, arrogance, poor design, poor quality, crappy products, stupidity, and shortsightedness. Good riddens. The only time I would even be caught in an american car is when I rent cars on vacation. Thats by force. They rent the cheap crap usually. That means that the lots are filled with american and korean cars. I always come home from my vacations with a new appreciation for my cars.
Last edited by I8ABMR; 10-23-08 at 09:51 PM.
10-24-08, 11:53 AM
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That maybe true but my money is on Toyota. Three reasons:
1. Toyota is gaining much faster in China than VW is gaining (is it even gaining?) here in the US.
2. Toyota has a head start in India which might and imo will become the 3rd largest auto market in the world.
3. European market, VW's backyard, has already reach its max potential so I think it's going to be all down hill from this point on.
1. Toyota is gaining much faster in China than VW is gaining (is it even gaining?) here in the US.
2. Toyota has a head start in India which might and imo will become the 3rd largest auto market in the world.
3. European market, VW's backyard, has already reach its max potential so I think it's going to be all down hill from this point on.
Not really sure what you mean...VW's recently large financial results have been the direct result of growth in China, India, Russia, etc. Don't forget that VW wholly owns Skoda, they are having huge growth in developing markets. You have to consider that VAG only has 1% of the North American market, 2% if you include Audi/Lambo/Bently yet they are still larger than Ford. They have tremendous growth potential here, as you see by the $1 billiion plant in TN. Western Europe, like North America, is being hurt by the worldwide recession fears, but you can't just write them out of their home market simply becuase they are #1 there.
10-24-08, 03:12 PM
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Not really sure what you mean...VW's recently large financial results have been the direct result of growth in China, India, Russia, etc. Don't forget that VW wholly owns Skoda, they are having huge growth in developing markets. You have to consider that VAG only has 1% of the North American market, 2% if you include Audi/Lambo/Bently yet they are still larger than Ford. They have tremendous growth potential here, as you see by the $1 billiion plant in TN. Western Europe, like North America, is being hurt by the worldwide recession fears, but you can't just write them out of their home market simply becuase they are #1 there.
10-24-08, 05:51 PM
#15
Not really sure what you mean...VW's recently large financial results have been the direct result of growth in China, India, Russia, etc. Don't forget that VW wholly owns Skoda, they are having huge growth in developing markets. You have to consider that VAG only has 1% of the North American market, 2% if you include Audi/Lambo/Bently yet they are still larger than Ford. They have tremendous growth potential here, as you see by the $1 billiion plant in TN. Western Europe, like North America, is being hurt by the worldwide recession fears, but you can't just write them out of their home market simply becuase they are #1 there.
VW is by far bigger competitor to Toyota than GM, and has been for past decade at least.
And yet, VW's record profits are only half of Toyota profits...
And in China, Volkswagen had huge setbacks this year, only meeting less than 60% of their sales goals for first 8 months of this year...