It was a dead heat. General Motors sold 9.37 million vehicles worldwide in 2007
and lost $38.7 billion. Toyota sold 9.37 million vehicles in 2007 and made $17.1
billion.That was the second-best sales total in GM's 100-year history and the
biggest loss ever for any automaker in the world.For Toyota, that was roughly
$1,800 in profit for every vehicle sold. For GM, it was an average loss of
$4,100 for every vehicle sold.
If these numbers are correct, a serious difference in cost structure would be indicated. That cost structure may not be limited solely to labour cost differential, but that would certainly appear to be part of the problem.
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