Toyota aims at overtaking GM to the top slot

General Motor Corp, once the symbol of US industrial might, has escaped by a whisker from losing its title as the world's biggest car maker. Toyota Motor Corp sold 9.366 million vehicles in 2007, just 3,000 short of the numbers reported by General Motor. 

Toyota has already surpassed Ford Motor for the title of No. 2 automaker in US sales.

In sheer numbers of vehicles produced, Toyota has, however, overtaken General Motors. The top Japanese carmaker produced almost 9.498 million vehicles in 2007, overtaking US rival General Motors which produced 9.284 million vehicles worldwide in 2007.

GM has been able to beat Toyota in sales due to strong overseas sales in China, Latin America, Africa, Russia and the Middle East. The company's sales doubled in Russia while its sales in China broke the 1 million mark for the first time in 2007. Its sales increased 19 percent in regions that include Latin America, Africa and the Middle East.

The story in GM's own home turf, the US market, however, was just the opposite where it has been struggling with job cuts, losses and plant closures.

With gas prices shooting through the roof and buyers looking for cars that offered good mileage Toyota has taken the lead in the US on the back of eco-friendly hybrids such as its Prius, which runs on a gas engine and electric motor. Toyota in fact sells more hybrids in the US than any other automaker.