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

Toyota Motor Corp. has confirmed that its electric city-car concept called the FT-EV will be available for sale by 2012. The Toyota FT-EV is based on the Toyota IQ, a European style rabbit hatchback with excellent fuel economy not yet available in the US. The Toyota FT-EV is an electric car designed for the ‘urban dweller’. It can run up to 50 miles on a single charge.

Aside from the FT-EV, Toyota will also fast track 500 plug-in hybrids powered by lithium-ion battery packs. One hundred and fifty of these plug-in hybrids will arrive in the US for lease-fleet customers.

Via Detnews

For years, inventors and automakers have dreamt of creating an electric car. In fact, the electric car dream goes back to Thomas Edison’s time. However, electric cars have remained a novelty in the automotive world. This is mainly due to the limited battery life which impairs the practicality of such cars.

But that is bound to change with the recent announcement by Japanese automakers of their intent to develop electric cars and roll them out within the next few years. Already, recent technological breakthroughs in the development of longer-lasting lithium-ion batteries may soon eliminate the obstacle of limited battery life.

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The continued rise in gasoline prices as well as tighter rules on vehicle emissions are reviving automakers’ interests in alternative fuels specifically compressed natural gas or CNG. Toyota revealed plans to expand its line of alternatively-powered cars aside from the Prius by unveiling a new Camry Hybrid that will run on compressed natural gas rather than gasoline.

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