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Toyota may outsell Ford

Tuesday, Nov. 11, 2003 | 9:22 a.m.

DETROIT -- Toyota Motor Corp. may overtake Ford Motor Co. as the world's second-biggest automaker by unit sales as early as this year, based on gains the Japanese company is making in North America and Europe.

Ford sold 4.844 million cars and trucks worldwide in the first three quarters of 2003 to Toyota's 4.819 million, based on wholesale figures filed to the U.S. government. The 25,000-unit gap was the narrowest ever between them, economic forecasting firm Global Insights said. Toyota beat its rival in the three months ended Sept. 30, selling 1.58 million vehicles to Ford's 1.41 million.

Toyota, based in Toyota City, Japan, is forecasting a fourth year of record earnings in the 12 months to the end of next March, helped by stronger sales. The automaker, which plans to increase its global market share to 15 percent in the early 2010s from 10 percent now, is expanding in markets such as North America and Europe, while Ford cuts back in both regions.

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