Toyota output could make it world’s No.1 automaker
12/22/06 Toyota Motor Corp. said on Friday it expects to produce a record 9.42 million vehicles in 2007 — a 4 percent rise that should see it overtake General Motors Corp. as the world's biggest auto maker. As the Japanese firm lures buyers worldwide with cars that are safe, affordable and fuel efficient, U.S. rivals GM and Ford Motor Co. battle falling market share, closing factories and shedding thousands of jobs.
Soaring fuel prices have battered Detroit's auto heartland, with customers shunning gas-guzzling pickups in favor of cheaper-to-run models from Japanese and South Korean car makers.
Toyota, which makes the Camry, Yaris and popular Prius hybrid cars, has overtaken Chrysler Group in the United States and is expected to pass Ford next year, market forecaster Edmunds.com says.
In the first 11 months of this year, Ford had a 16.6 percent share of the U.S. market, while Toyota's share was 15.3 percent. Ford has said it expects its U.S. market share to slip to 14-15 percent next year. More at Yahoo.com