General Motors lost the title of world's largest automaker to rival Toyota Motor in 2008, according to sales figures released Wednesday by the troubled U.S. automaker. It was the first time in nearly 80 years that GM did not sell the most cars in the world.GM reported that global sales plunged 10.8% for the year to 8.36 million vehicles. That allowed Toyota to move ahead of GM with sales of 8.97 million vehicles worldwide.
GM executives tried to play down the significance of the company losing the title it had held for 77 years.
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