TOKYO - Toyota Motor Corp., which has sunk to No. 3 in global vehicle sales from pole position, is counting on emerging markets to drive a revival in its fortunes, one of its top India executives says.
Toyota sold 3.7 million vehicles around the world in the first half of 2011, down 11 per cent from a year earlier as sales crashed 62 per cent in April-June on production disruptions caused by the March earthquake and tsunami in northeastern Japan.
That put it behind General Motors Co., which sold 4.5 million vehicles during the same period, and Volkswagen AG of Germany, with 4.13 million vehicles sold. Toyota has been the top selling automaker in annual sales for the past three years.
Toyota loses top spot in global sales
