Much of the problem has been the domestic Big 3 losing out to Asian and European rivals on their home turf throughout 2003, plus Toyota's strong inroads in the fast growing Asian market, where GM, Ford and Chrysler Group are traditionally weak.
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| Toyota stated its group of brands sold 6.78 million vehicles in 2003, an improvement of 10 percent over 2002 sales. Toyota's top-selling Camry is one of the big reasons why. (Photo: Toyota Canada) |
But Toyota won't stop at No. 2. They have plans of raising their 11 percent global light vehicle stake to 15 percent of the market in the next decade, which would place the Japanese automaker ahead of GM's 14.7 percent.
In a press announcement Monday, Toyota stated its group of brands; that include Toyota, Lexus, Scion, Hino Motors (trucks) and Daihatsu Motor (minicars), sold 6.78 million vehicles in 2003, an improvement of 10 percent over 2002 sales.
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| In the real world, it's never a good idea to judge a company's success by sales volume alone. Ford's Lincoln division makes high profits on the Navigator. (Photo: Ford Motor Company of Canada) |
In comparison, Ford Motor Co. sold 6.72 million Ford, Lincoln, Mercury, Volvo, Jaguar, Land Rover and Aston Martin cars and light trucks, 60,000 units less than Toyota.
But in the real world what does this mean? Really, it's never a good idea to judge a company's success by sales volume alone. True success always relates to the bottom line, a company's profitability and market capitalization - the measure given by investors regarding a company's market value.