Friday, January 23, 2009

Brave New Auto Industry

Toyota has taken away General Motors's 77-year claim to the title "World's Largest Automaker." The Japanese company, which now has a substantial base in America and employs tens of thousands across the country, sold 620,000 more units than GM in 2008.

The Treasury added a little boost to GM's wounded pride by giving it a $5.4 billion chunk of cash - the second installment of a loan to the embattled automaker afloat for just a little while longer.

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