Ford Sales Slide asToyota Moves into Second Place
Toyota Motor Corp, may have surpassed Ford Motor Co. in 2003 to become the world's second-largest automaker by vehicle sales, ousting a century-old American icon.
Ford on Thursday said global sales fell 3.5 percent to 6.72 million last year from 6.97 million in 2002. Toyota in December estimated sales rose 10 percent last year to 6.78 million cars and trucks boosted by sales in North America. Toyota will release a final figure next month.
"It's very obvious that the growth pace of Toyota is outpacing the industry, and especially over Ford's," said Ken Yamada, who helps manage $9 billion, including Toyota shares, for Kaye Anderson Rudnick Investment Management LLC in Los Angeles.
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