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Toyota retakes global car sales crown from General Motors

Toyota sold over 9.7 million cars last year
Toyota sold over 9.7 million cars last year

Toyota has dethroned General Motors as the world's top-selling car maker.

The Japanese company sold 9.7 million cars and trucks worldwide in 2012, although it is still counting the annual total. General Motors sold 9.29 million.

GM was the top-selling car maker for more than seven decades before losing the title to Toyota in 2008. 

But GM retook the sales crown in 2011 when Toyota's factories were slowed by an earthquake and tsunami in Japan. The disaster left Toyota dealers with few cars to sell, but the company has since recovered. GM's global sales were up 2.9% last year, while Toyota sales rose 22%.

General Motors is also contending with a stronger Volkswagen. It narrowly edged out the fast-growing German company for second place in 2012, when VW sold a record 9.1 million vehicles.

Volkswagen closed in on GM with an 11% sales increase across the globe. The US, where VW Group sales rose 34%, led the way.

Analysts expect General Motors to hold off Volkswagen in 2013 because VW has more of a presence in Europe, where sales are falling as the region heads struggles with high unemployment and weak economies. GM has said in the past that it is more concerned with profitable growth than the global sales race.