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Toyota’s in the passing lane


Toyota is poised to become the world's largest automaker in 2007, taking the title that General Motors has held for 75 years. Enjoying profits forecast to reach $US13 billion this year, Toyota is already the richest.

With 2006 sales of Toyota, Lexus, Scion, Daihatsu and Hino brands up 12.5 per cent, the 11th consecutive annual increase, Toyota is outpacing its Asian, European and US rivals.

GM says it will not chase unprofitable sales to remain top dog. "If as a result of that we get passed, well, it won't be a happy day for me," said CEO Rick Waggoner.

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