Toyota closing in on General Motors

Toyota is closer than ever before to take over from General Motors to become the world’s largest automaker. The company manufactured 9.018 million vehicles last year.

In comparison, GM produced 9.18 million vehicles worldwide in 2006. This means that the difference between the two companies was just around 162,000 vehicles.

This gap has narrowed down to this number from around 819,000 vehicles at the end of 2005.

Now, Toyota has said that they are aiming to manufacture around 9.42 million vehicles this year. This target seems to be good enough to get them past General Motors which have not released any target figures.

Shotaro Noguchi, auto analyst for Mitsubishi UFJ Securities Co. in Tokyo spoke about the possibility of Toyota overtaking GM this year: “Things are going very well with Toyota, and it’s likely to achieve its target for this year.”

The company already dominates GM in profitability.

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