Early reports of 2009 first quarter auto sales have revealed that Volkswagen is poised to overtake Toyota as the world’s #1 auto company. Reuters reports that although Volkswagen will post a loss compared to last year, Toyota will likely post a much larger one. Volkswagen’s market share for the first quarter of 2009 is expected to be 11%.
Ferdinand Dudenhoeffer, head of the Centre for Automotive Research in Gelsenkirchen, told Reuters that the reason for Volkswagen’s jump in market share is due to the company’s popularity in China and Brazil, where car sales have been good this year, combined with Toyota’s popularity in the failing American and European markets.
"Volkswagen has the luck of being strong in the markets that are currently growing, while Toyota is exposed to those that are collapsing," Dudenhoeffer said.
Volkswagen was briefly the most valuable company in the world a few months ago when stock prices jumped as Porsche announced that it would be buying enough stock to gain control over the company. Volkswagen currently has the #2 automotive stock value rating, behind Toyota.
You’ve always been #1 in my heart.