GM global sales fall 5% in 2nd quarter

0 Comments | USA TODAY, July, 2008 | by Chris Woodyard

Toyota crept closer Wednesday to taking the global sales crown away from General Motors.

A weak U.S. auto market dragged down GM's performance as it reported Wednesday that its sales slipped 5% in the second quarter.

GM sold 2.3 million vehicles worldwide in the period. Sales fell 19.7% in North America but were bolstered by record gains in Asia, Europe and Latin America, Africa and the Middle East.

The reduction increases the prospect that Toyota soon will end GM's 77-year reign as world's largest automaker.

For the first half of the year, GM reported selling 4.5 million vehicles, down 3% from the same period last year. Toyota sold 4.8 million vehicles in the first half, up 2% from last year. Some analysts think GM will be unseated. ...