TOKYO (Bloomberg) -- Toyota Motor Corp. The company was outsold by General Motors Co. for the first time in six quarters, as sales in Japan extended their decline after government incentives for fuel-efficient models expired last year. Toyota and its subsidiaries sold 2.48 million vehicles during the quarter nded June, just shy of the 2.49 million that GM disclosed earlier this month. Toyota still holds the lead six-month lead over GM. But Japan's largest automaker sold 8.4 percent fewer vehicles in its home market last quarter. Toyota's decline in Japan car sales shows a rare weak spot for a company that's forecasting its biggest profit in six years and whose stock has gained 54 percent this year. Japanese vehicle sales have fallen steadily since the asset bubble burst in 1989, with temporary boosts from government subsidies. Jun Nokuo, an analyst with researcher R.L. Polk & Co. in Tokyo. Toyota's sales in the first six months of this year dropped 1.2 percent to 4.91 million units. GM sold 4.85 million vehicles in the first half and Volkswagen delivered 4.7 million, according to the companies.
Toyota, which reports earnings on Friday, Aug. 2, probably saw profit last quarter surge 48 percent to the highest in more than five years, according to the average analyst estimate compiled by Bloomberg. The yen has weakened more than 12 percent against the dollar this year and last week traded at 100 versus the greenback. 30 million to boost Highlander SUV production by a further 15,000 units a year from 2014. The plant will also hire 200 more workers, spokeswoman Carri Chandler said. Nissan Motor Co., which on July 25 reported a 14 percent increase in profit, has taken advantage of favorable exchange rates by cutting prices of seven models in the U.S., including its top-selling Altima sedan. Nissan saw sales surge 20 percent last quarter. Toyota has resisted following Nissan's price cuts and saw its sales in the country rise by 3.7 percent -- less than half the pace of the industry -- and its U.S. At GM, 18 new or refreshed vehicles are being brought into showrooms this year, transforming its lineup into one of the market's newest from one of the oldest.
One of the earliest new offerings, the 2014 Impala, was rated by Consumer Reports as the best sedan on the market -- a first for a U.S. The product push is part of CEO Dan Akerson's efforts to boost North American profit margins to 10 percent, stem European losses and increase China sales to 5 million, all by mid-decade. GM's rise to the top of the global industry capped a week in which the maker of Chevrolet cars and Ford Motor Co. posted earnings that beat analyst estimates. In China, where a territorial dispute led to a consumer backlash that cut demand for Japanese products last year, Toyota continued to lose market share to GM and Volkswagen. Toyota's sales climbed 0.6 percent last quarter, versus GM's 12 percent and Volkswagen's 16 percent, according to figures reported by the companies. In Europe, where auto demand is slumping to its lowest level in two decades, sales of Toyota and Lexus cars last quarter were little changed from a year earlier, reaching 215,734 units. That helped the company keep its market share at about 4.5 percent, according to Toyota.
With the unveiling of the new-gen Corsa earlier this week, Opel/Vauxhall engineers can now focus on the development of its sportier derivatives. Under PSA鈥檚 guidance, the German supermini, available with an electric powertrain like its French sibling, the Peugeot e-208. Further down the road, though, a couple of hot versions should be coming our way sooner rather than later. The most accessible of the two replace the current GSi , which uses a 150 PS 1.4-liter, turbocharged engine linked to a six-speed manual gearbox. Performance is respectable for a supermini, with the 0-100 km/h sprint taking 8.9 seconds and top speed standing at 207 km/h. Whether it鈥檚 not clear if the same moniker will be used for the all-new Corsa, it is very likely - and it could look similar to the rendering posted by XTomi. Compared to the rest of the new Corsa range, it features reworked front bumper and grille, as well as larger alloy wheels and a striking red paint contrasted by the black roof, side mirrors and other exterior elements. The other two renderings come via KleberSilva and portray the range-ropping Corsa OPC. A true rival to the likes of the Volkswagen Polo GTI, Ford Fiesta ST and Renault Clio RS, it sets itself apart with the sporty body kit, different grille and rear wing designs, and dual tailpipes. It would also add a more potent engine, given that its predecessor got a 207 PS 1.6-liter turbocharged four and hit 100 km/h in 6.8 seconds.
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