Japanese automaker Toyota is now officially the top automaker in terms of global sales overtaking erstwhile leader, Detroit-based General Motors. Toyota managed to grab the top spot from GM, which held the title for seventy seven years, despite experiencing lower sales volume for 2008. In fact, for the fiscal year ending in March 31, the Japanese automaker is expected to report an operating loss of $1.7 billion. Still, despite the dismal outlook, Toyota managed to withstand the challenges plaguing the automotive industry.

Both Toyota and General Motors reported a big drop in sales in 2008, but Toyota sped ahead of the competition. Toyota sold over 8.97 million car and trucks last year, or approximately 620,000 more than GM. However, there is little reason to celebrate for Toyota as the company’s sales were down for about 4% last year. The automaker says it will not post a profit for the first time in 50 years.

Meanwhile, GM President Fritz Henderson says the title wasn’t ‘terribly important’ to him and the company is busy finding ways to downsize its brands, maintain the strong brands and deliver strong products. For now, GM faces February and March deadlines to prove its viability to the US government in order to secure federal loans.

Source: DetNews

The year 2008 has been disastrous not only for the automotive industry but for the entire global economy as well. Car sales slumped and every major automaker registered a net loss in profits. Three million fewer cars were sold in 2008 compared to 2007. And the forecast is just as gloomy: analysts predict that the downward trend is expected to continue until 2012 or even later.

Still, despite the negative growth in sales, ten vehicles managed to get to the top of the bestselling vehicle list of 2008. The Ford F-150 continued its twenty-three year reign at the top although sales have significantly decreased compared to the mid-2000s sales figures. Meanwhile, six of the top selling cars are all made by Japanese automakers with the Toyota Camry as the best selling import car.

Here are the top ten vehicles of 2008 based on US sales:

1. Ford F-150 – 515,313 units sold
2. Chevrolet Silverado – 465,065 units sold
3. Toyota Camry – 436,617 units sold
4. Honda Accord – 372,789 units sold
5. Toyota Corolla – 351,007 units sold
6. Honda Civic – 339,289 units sold
7. Nissan Altima - 269,668 units sold
8. Chevy Impala – 265,840 units sold
9. Dodge Ram – 245,840 units sold
10. Honda CR-V – 197,279 units sold

Source

The Insurance Institute for Highway Safety and the Highway Loss Data Institute recently released the list of the top 10 most stolen vehicles for 2008. SUVs and trucks figured prominently in the list. However, it is interesting to note that the most stolen vehicles are not necessarily the flashier models on the road.

Car robbers tend to target vehicles that can be sold for parts, easily blend in with traffic or are popular in foreign markets where the cars can be disposed off easily. SUVs and trucks also spend more time parked in driveways or out in the street making them more accessible to thieves. To compile this list, the IIHS looked at insurance-claim reports to determine theft-frequency rates.

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Hyundai Motor Co. aims at a higher level of quality and value with the recent release of the Genesis Coupe, touted as the automaker’s ‘halo vehicle’. At the launch in Jeju Island, a popular tourist destination in South Korea, Hyundai took the covers off of the Genesis Coupe for members of the Korean and international media. The new Genesis Coupe comes at the heels of the highly acclaimed Genesis sports sedan introduced earlier this year. With its simple, modern and crisp lines, the Genesis Coupe is the exemplification of Hyundai’s design evolution.

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