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GM back at the top

GM back at the top
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General Motors regained its title as the world’s top-selling carmaker from Japanese rival Toyota last year.

GM, which was on the brink of bankruptcy less than three years ago, sold 9.026 million vehicles worldwide, a 7.6 percent increase on 2010

However it will probably find it difficult to stay number one this year as Toyota is rebuilding its business hit by natural disasters in Japan and Thailand.

The Detroit-based carmaker’s return to the top slot comes after its 2009 taxpayer-funded bankruptcy restructuring allowed it to cut its spiralling costs in area like pensions and retired workers health expenses.

It also comes as Toyota’s sales fell an estimated six percent in 2011 to 7.9 million vehicles. It suffered severe production cuts following an earthquake, tsunami and nuclear crisis in Japan and deadly floods in Thailand where many parts for its vehicles are produced.

Toyota is due to publish its final sales tally for 2011 later this month.