Toyota gives GM run for its money, selling 9.37 million cars

Toyota Motor Corp. said Thursday that its global group sales rose 6 percent last year to 9.37 million vehicles, making for a tight race against General Motors, the world's biggest automaker.

Toyota's group companies sold 7.1 million vehicles overseas last year, a 10 percent jump from the previous year, offsetting a 4 percent decline in sales in Japan at 2.26 million vehicles, the automaker said in a statement.

GM has not yet given its annual sales tally but earlier estimated 2007 sales would come to 9.3 million vehicles.

Toyota has marked booming sales lately on the popularity of models reputed for good mileage, including the Camry sedan and the Prius gas-electric hybrid, at a time when soaring gas prices have dramatically boosted their appeal.

Detroit-based GM has been fiercely fighting back, boosting its overseas business. It could still keep the top industry spot, which it has held for 76 years.

But many analysts say its just a matter of time before Toyota beats GM to become the biggest automaker in global sales.

Last month, Toyota outlined an ambitious plan for growth, targeting sales of 9.85 million vehicles worldwide this year, up 5 percent from last year.

GM holds the industry record in annual global vehicle sales, with 9.55 million vehicles sold in 1978.

Toyota has long beaten GM in profitability, enriching its coffers with solid sales in recent years at a time when GM has been struggling, closing plants and slashing jobs.

Sales of imported vehicles, including Japanese cars manufactured abroad, increased 1.1 percent in 2007 to 265,086 units, marking the first rise in four years, an industry body said in a preliminary report Thursday.

Robust sales of Japanese vehicles made overseas and shipped home offset sluggish sales of foreign models, the report by the Japan Automobile Importers Association says.

Sales of imported foreign-brand vehicles fell 5.8 percent to 231,593 units, but those of Japanese brands more than doubled to 33,493 units.

By brand, Volkswagen took the largest share of last year's imported vehicle market, winning a 19.61 percent share with sales of 51,974 units. However, VW's share was down 4.4 percent from 2006.

BMW came in second place with a 17.77 percent share, selling 47,103 cars, down 3.9 percent.

Mercedes-Benz finished third with a 17.66 percent share on 46,811 cars sold, down 5.8 percent.

For December alone, sales of imports rose 1.2 percent from a year before to 27,108 units, an increase for the eighth consecutive month.

Sales of foreign-brand vehicles slid 1.9 percent to 25,088, while those of Japanese brands rose 66.4 percent to 2,020.

BMW was the top-selling imported vehicle brand in December, with a 23.04 percent market share on sales of 6,246 vehicles. Mercedes-Benz took the No. 2 spot with a 20.74 percent share on sales of 5,621 units, followed by Volkswagen with an 18.52 percent share on 5,021 cars sold.

Suzuki Motor Corp.'s WagonR minicar was Japan's best-selling vehicle for the fourth consecutive year in 2007, with sales up 2.6 percent from the previous year to 226,725 units, according to data released by industry bodies Thursday.

Fuel-efficient minicars, with engines of up to 660cc, have been popular due to high gasoline prices, occupying five of the top 10 spots, according to data released by the Japan Automobile Dealers Association and the Japan Mini Vehicles Association.

Among other minicars, Daihatsu Motor Co.'s Move came in second with sales totaling 210,424 units, up 13.8 percent, and its Tanto placed sixth with sales of 100,217 units, down 5.8 percent.

Toyota Motor Corp.'s Corolla came in third with sales of 147,069 units, while its Vitz came fourth with sales of 121,377 units. Honda's Fit subcompact was fifth, with sales of 116,561 units.

The Corolla remained the best-selling car for a fifth year in a row in 2007, excluding minicars and imported vehicles.