With its struggle to survive the recession at present, the General Motors has another bad news. It is no longer the world’s auto industry leader. Toyota has surpassed the General Motors the previous year and thus took the crown from General Motors.
Though the General Motors celebrated its 100th anniversary the previous year, it didn’t expect that it would end its 77-year successful reign in such a tragic way, the same year. At present the General Motors is struggling to restructure with a $13.4 billion bailout form U.S government.
It is just one week back when Toyota declared an annual 4 percent decrease in its business with 8.97 million sales for 2008. General Motors released its poor annual results of 8.35 million vehicle sales, down 11 percent compared to the previous year. Thus the great General Motors of U.S have yielded to its Asian rival Toyota with about 620,000 lesser sales.
Though the General Motors celebrated its 100th anniversary the previous year, it didn’t expect that it would end its 77-year successful reign in such a tragic way, the same year. At present the General Motors is struggling to restructure with a $13.4 billion bailout form U.S government.
It is just one week back when Toyota declared an annual 4 percent decrease in its business with 8.97 million sales for 2008. General Motors released its poor annual results of 8.35 million vehicle sales, down 11 percent compared to the previous year. Thus the great General Motors of U.S have yielded to its Asian rival Toyota with about 620,000 lesser sales.
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