General motors Co. overtook Toyota Motors Co. as the more profitable automaker this year, while Ford Motors Co. held its lead as the world's top-earning manufacturer amid rising global sales for the industry. GM reported third-quarter net income of $2.16 billion today, bringing the automaker's earnings this year to $4.77 billion. That tops the $4.46 billion profit by Toyota in the nine months ended Sept. 30, according to data compiled by Bloomberg. Those numbers are understandable because after all of controversy surrounding Toyota, no consumer who wants to buy and reliable, safe car will want to purchase a Toyota.
However Toyota is not out of luck. There is still hope for them to rise to the top of the automotive industry again. “I'm a believer in the auto cycle,” said Alan Tarver, a fund manager Frost Investment Advisors in San Antonio, Texas, which holds shares in Toyota and Volkswagen. You've been through “the bottom, and you're coming out of it. Sales units are stronger, and everyone's nudging up their production assumptions.” So for those who have stocks in Toyota should hold on to them and ride out the industry cycle.
http://www.autonews.com/article/201010/OEM/101119981/1401
I know that my grandma has stock in Toyota and she is deciding to stick with it because she has the same mentality as Alan. I am glad to see that GM is on top I really like General Motors automobiles, my first S.U.V was a jimmy, which is made by GM and I was really happy about it.
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