General Motors reported final results for their 2011 sales yesterday, and it looks certain they are once again the largest automaker in the world. For the first time since 2007, GM moved more than 9 million vehicles in a twelve month period.
We say almost certain, since Toyota hasn’t revealed their final numbers for 2011. The company did estimate they’d fall in line with a decrease of 6 percent, coming in at a projected 7.9 million. Toyota struggled in the United States for much of the year, with falling sales month after month.
In fact, if Toyota’s estimate is correct, they’ll fall three spots to the fourth largest automaker. Volkswagen reported sales of 8.16 million cars, while the Renault/Nissan joint venture took the bronze with 8.03 million autos sold.
What’s particularly amazing to us is that GM sold more vehicles in China than they did the United States. With an 8.3 percent rise in sales year over year, GM moved 2.55 million vehicles in China.
While sales in the United States saw a more impressive rise of 13 percent year over year, they came in below results from China, with just 2.5 million domestically.
GM’s stated intention is to continue impressive growth in China, and the company has offered rosy forecasts of up to 5 million vehicles sold annually in China by 2015.
Even better, GM is profitable. The company has posted three quarters of earnings, with more than seven billion in profit. The company should add to that already impressive total when they report Q4 results in February.