Toyota overtakes GM as biggest automaker
If its estimates hold true, Toyota Motor Corp. will depose General Motors Corp. as the world’s largest automaker in 2007.
GM said Thursday it made 9.284 million vehicles worldwide last year, roughly 226,000 fewer than Toyota’s 2007 production estimate of 9.51 million.
Toyota expects to have final numbers later in January, but issued the 2007 estimate on Dec. 25 with just six days left in the year.
The real prize, the worldwide auto sales lead, also must still be determined, with both companies to release 2007 global sales figures later this month.
GM Chairman and Chief Executive Rick Wagoner said Thursday in an Internet chat with journalists that the companies are in a race to be the top vehicle maker.
Toyota said it plans to produce 9.95 million vehicles worldwide next year, up 5 percent from this year – the same as the projected annual percentage jump for Toyota’s global sales.
GM has the industry record for annual global vehicle sales, with 9.55 million vehicles sold in 1978.
The Imperium Renewables company that operates a big biodiesel plant at Hoquiam is delaying plans for an initial public stock offering.
The company says the market conditions are not right.
Imperium had announced plans in May to raise $345 million in the public offering and use the money to build biodiesel refineries in Philadelphia, Hawaii and Argentina. In December Martin Tobias unexpectedly stepped down as chief executive and chairman of the Seattle company.
With the Hoquiam plant capable of producing 100 million gallons a year, Imperium says it’s the largest producer of biodiesel on the West Coast.
Imperium also operates a facility in Seattle where it’s researching crops that can be turned into fuel and blended with diesel.
The family that owns Norfolk, Va.-based Landmark Communications is exploring a sale of the company’s businesses, including The Weather Channel and nine daily newspapers.
Frank Batten Jr., Landmark’s chairman and CEO, said in a statement Thursday that the privately held company has retained JPMorgan and Lehman Brothers to help it look into possible sale scenarios.
“At this early stage, we cannot speculate on where this process will lead,” said Batten, whose father helped build the company after taking over as publisher of the local newspaper in 1954.