Toyota said today that its group sales rose in 2010, enabling the firm to narrowly retain its title as the world's biggest car maker despite a global safety crisis that damaged its brand image.
But analysts warn that after a year that saw the recall of millions of vehicles, a wave of lawsuits and record fines, the company is likely to soon surrender that lead as it battles to regain consumer trust overseas.
In 2008 Toyota ended General Motors' 77-year reign as the world's largest car maker but the road has been a bumpy one for the Japanese giant, facing the impact of the economic crisis, recalls and recently a strong yen.
Despite such challenges Toyota's global sales rose 8% year-on-year to 8.418 million vehicles, narrowly beating the 8.39 million sold by a resurgent General Motors in 2010.
The Toyota group, including small car producer Daihatsu Motor and truckmaker Hino Motors, saw its Japanese sales jump 10% while foreign sales rose 7%. Toyota Motor alone sold 7.528 million vehicles, up 8% from the previous year.
The firm's Prius hybrid broke the Japanese sales record for a single car model in 2010, helped by a popular government subsidy for green vehicles, according to a Japanese industry group.
But last year ended with Toyota losing market share to rivals in the US - its second largest market by volume - even as overall sales recovered.
General Motors, which emerged from major restructuring in 2010, said today that its global sales increased 12.2% in 2010, boosted by record deliveries in China.
Analysts say the iconic Japanese firm is likely to soon surrender the crown of top car maker back to GM, as the US giant rapidly improves its business at a time when Toyota is exposed to declining domestic demand.
GM says sales up 12.2% last year
General Motors said today that its sales increased by 12.2% in 2010, boosted by record deliveries in China, to touch 8.3 million vehicles compared to 7.4 million in 2009.
GM achieved double-digit increases in five of its top 10 markets, including the 28.8% increase in China, where the Detroit-based firm and its partners were the first to top the two million sales mark in a single year.
It also reported an increase of 41.3% in Uzbekistan in Central Asia, which is now GM's tenth-largest market by volume.
Deliveries in the US, GM's second largest market, rose 6.3% despite the phase-out or sale of four brands, while Brazil, GM's third-largest market, saw deliveries rise by 10.4%.
Sales also increased in Russia, Mexico and the UK. GM, however, suffered some significant setbacks particularly in Germany where sales dropped 29.5% and Italy where sales fell 10%.
General Motors led the global industry for over 70 years until 2008 when it was surpassed by Toyota.
