Toyota, GM fight to be world's No. 1 auto maker

Photo: Toyota, GM fight to be world's No. 1 auto maker

Toyota, GM fight to be world's No. 1 auto maker

Toyota announced Thursday that its global sales last year totaled 9/37 million vehicles.

The result is very close to 9.3 million vehicles that GM has estimated it would sell in 2007.The Detroit-based automaker has led in the area for 76 years. The company is expected to release its results soon.

But the end of the battle is far from over: the industry is shifting its focus to the developing markets – in India, Russia and China. It is expected that the growing middle class will snatch up cars in the regions.

Toyota is a Japanese automaker. It is the world's second largest automaker behind General Motors; however it ranks first in net worth, revenue and profit. It is also the only car manufacturer to appear in the top 10 of the BrandZ ranking.

Founded in 1908, in Flint , Michigan , GM employs approximately 284,000 people around the world. With global headquarters at the Renaissance Center in Detroit, Michigan, USA, GM manufactures its cars and trucks in 33 countries. Their European headquarters are based in Zurich, Switzerland. Their Holden headquarters are in Melbourne, Victoria, Australia. 

GM is the majority shareholder in GM Daewoo Auto & Technology Co. of South Korea and has had collaborative ventures in technology and manufacturing with several of the world's automakers.

Daewoo is GM's most recent acquisition, having been rescued by the combine shortly after going into receivership towards the end of 2000. The brand has been retained for the home market of South Korea, although since January 2005 the brand's products have been sold as Holdens in Australia and Chevrolets in other markets.