Toyota stalks GM in sales stakes

Toyota, the world's most profitable carmaker, is set to draw level with General Motors as the world's biggest in terms of sales.

Chairman Hiroshi Okuda yesterday said the group, which includes Daihatsu and Hino, intended to boost global sales to some 8.5m units in 2006.

That would put Toyota almost neck and neck with GM, which sold about 8.5 million vehicles last year but is cutting back production in the US and Europe.

(Source: Birmingham Post)