Monday, November 16, 2009
Volkswagen-Porsche has overtaken Toyota to become the world's largest car manufacturer as the German group benefits from state-backed stimulus packages around the globe. VW has "produced 4.4 million vehicles so far this year, outstripping its Japanese rival which has seen four million cars roll off production lines since January.
VW-Porsche, which has built 4.4 million cars to date, is roughly 400,000 beyond Toyota's mark. However, Toyota halved its production earlier this year and shut down all its plants in February." VW also "benefited much more than Toyota from the European cash-for-clunkers programs," though Toyota saw more sales than VW spurred by the U.S. version of the car-swap program. General Motors now stands in third globally.