Toyota confirms loss of No. 1 carmaker spot

Toyota Motor confirmed Wednesday that its world group sales fell below the eight million mark in 2011, losing the firm its number one spot in the global carmakers' league.

The Japanese company had been the world's biggest carmaker since 2008 and sold 8.42 million vehicles in 2010.

Toyota brand sales, which include Lexus vehicles, were down six percent in 2011, subsidiary Daihatsu was down seven percent, while Hino, a smaller corporate unit, saw sales rise 14 percent last year.

Total sales were 7.95 million units worldwide, down six percent after supply chains were disrupted by the earthquake and tsunami in Japan, as well as flooding in Thailand. It also suffered from the high yen.

2011 figures saw US giant General Motors, on 9.03 million sales, in top spot after it emerged from bankruptcy, with Germany's Volkswagen in second place on 8.16 million vehicles.

ORIGINAL SOURCE
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