Toyota Retains Top Spot as World’s Largest Automaker

Despite an incredibly trying year filled with recalls and declining demand in the U.S., Toyota Motor Corp has managed to hold on to the title of being the world’s largest automaker.

The title for 2010 marks the third consecutive year Toyota has topped the heap, after claiming the crown from General Motors in 2008. GM had held the top spot for 77 consecutive years.

Including sales from brands like Scion and Lexus, not to mention Daihatsu and Hino, Toyota posted sales of 8.42 million units globally, up 8 percent from 2009.

General Motors placed second with 8.39 million units, up 12 percent, with strong growth of 29 percent in China – the world’s largest auto market.

In third, with aspirations of being number one, is Volkswagen, with 7.14 million units moved, an increase of 14 percent. Volkswagen is looking for an additional 5 percent growth in 2011, which would put the German automaker at 7.50 million units.

[Source: Automotive News]