GM lacks confidence about staying world's top automaker.
General Motors Corp. indicated Thursday it is highly possible that it will lose its position as the world's top automaker to Japan's Toyota Motor Corp. in 2007.
''As has been true for the prior 74 years, GM had the largest global market share for 2006, however, there is no assurance we will continue in that position,'' GM said in an annual report submitted to the Securities and Exchange Commission.
The report was filed as the struggling U.S. automaker needed production adjustments in its mainstay North American market, while Toyota, the world's second-largest automaker, has boosted its sales in almost every market in the world.
Analysts say it will be difficult for GM to remain the world's No. 1 automaker unless its reported acquisition of DaimlerChrysler AG's North American division materializes.
In the annual report, GM said its global market share stood at 13.5 percent in 2006, down 0.6 percentage point from a year earlier.
''Our share has declined in recent years while some of our competitors' shares have increased,'' it said.
|Printer friendly Cite/link Email Feedback|
|Publication:||Japan Transportation Scan|
|Date:||Mar 19, 2007|
|Previous Article:||LEAD: Bombardier avoids being bound on root cause of landing accident.|
|Next Article:||LEAD: Nissan to reduce output at 2 plants on weak domestic sales.|