GM’s global sales slip further behind Toyota’s

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In news that came as a shock to nobody, General Motors’ global sales slipped further behind Toyota’s in the third quarter. After decades of worldwide sales leadership, it seems nigh inevitable that the General will cede the crown to its Japanese rival at the end of the year.

In the third quarter, GM sold 2.1 million vehicles worldwide, an 11.4% decline from the same period last year. So far in 2008, GM has sold 6.7 million cars and light trucks, a 5.8% decline from 2007.

By comparison, Toyota, which released its global sales figures Friday, sold 2.24 million cars in the third quarter, a 4% decline from the same period a year ago, and 7.05 million so far this year, essentially the same level its sales were at at this point in 2007.

Last year, GM pulled out a late victory, selling scarcely 3,000 more vehicles than Toyota worldwide, but that lead quickly evaporated and GM has trailed all year.

According to GM, total worldwide automotive sales for the third quarter reached 16.2 million, which the company said is down about 1 million from the nine-month total in 2007. With U.S. sales down 1.6 million units through September, clearly much of the blame lies in the fatherland.

Indeed, sales outside North America for GM were up 164,000 units, while North American sales were down 18.9%.

GM might want to set about revising its company description statement, which says: GM, ‘the world’s largest automaker, has been the annual global industry sales leader for 77 years.’

-- Ken Bensinger

Courtesy of General Motors