Filed under: Car Buying, GM, Toyota, Earnings/Financials
GM may have its difficulties here in the US, but around the globe the General is on pace for its second best sales month ever. Second quarter global sales tolled in at 2.45 million, which bested Juggernaut Toyota by a narrow margin. For the year Toyota is still ahead of GM by 46,000 units, but much of that lead may have been lost after an earthquake in Japan shut-down 12 plants.
GM has done an excellent job of capitalizing on emerging markets like China, where GM is now the largest automaker. In the second quarter, a highest-ever 57-percent of the General’s overall sales came from outside the US. GM may be doing well beyond our shores, but to get its turnaround plan to pay off financially, Wagoner’s boys will have to make consistent profits in the US. Until then, it doesn’t matter who finishes number one, as long as Toyota continues raking in all the dough.
[Source: Freep]
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