Now that bondholders have rejected GM's restructuring plan, it looks like America's largest automaker will undergo bankruptcy proceedings. Not so long ago, things weren't too bad for GM. Sure, in 2007, Toyota had just overtaken the American behemoth to become the world's largest automaker, but at least people were still buying SUVs. When the numbers for 2008 are released, we'll be able to see just how large the gap has grown. Even with its recent losses, by now, Toyota must be miles ahead of GM.
All production statistics are from OICA (International Organization of Motor Vehicle Manufacturers)
Thursday, May 28, 2009
By Stephen M.