Due to the fallout from the recent earthquake and tsunami in Japan, Toyota execs have admitted the auto giant is likely to cede the title of the world’s largest automaker to General Motors. But according to a new Bloomberg report, things may be worse than that, with Toyota poised to slip to third in the global auto sales race.
Last year Toyota sold a total of 8.42 million vehicles, with General Motors a close second at 8.39 million. A distant third was Volkswagen at 7.14 million units.
Showing the extent of Toyota’s woes, this year’s sales figures could actually land it behind VW, which is projecting significant growth. But the added VW volume might not even be required to with figures provided by auto analyst firm Advanced Research Japan forecasting a worst-case scenario of just 6.5 million units.
Despite all the doom and gloom news, Toyota is still expected to turn a healthy profit this year. Production capacity in Japan is currently at 70 percent, with Toyota indicating it will be fully restored by year’s end.