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Toyota top after overtaking GM

Toyota sales - GM now trailing
Toyota sales - GM now trailing

Figures from Toyota show that the Japanese company became the world's best selling car maker in the three months to March, overtaking US rival General Motors.

Toyota sold 2.348 million vehicles in the first quarter of 2007, a company spokesman said. This beat GM, which earlier this month reported record global sales of 2.26 million cars and trucks for the same period.

Toyota is enjoying brisk demand, particularly in the US, as higher petrol prices boost demand for compact cars, small sport utility vehicles and hybrids which use a mix of  electricity and petrol.

Meanwhile, Japan's third-biggest carmaker, Nissan Motor, is to announce details of a voluntary early retirement programme in Japan today, aiming to cut up to 1,500 blue-collar and white-collar jobs due to a shrinking domestic market.

The firm recently cut 775 jobs in the US and earlier this year, it lowered its earnings outlook by 12% for the year to 31 March.