Toyota Motor Corp. is likely to overtake General Motors Corp. as the world's top selling automaker for the first time ever, even though it announced Tuesday its group global vehicle sales in 2008 fell 4 percent from the previous year to 8,972,000 units,

The Toyota group, including Daihatsu Motor Co. and Hino Motors Ltd., was already leading the top U.S. automaker in sales during the January-September period of 2008 by over 300,000 units. GM is expected to release its 2008 sales results on Wednesday.

The U.S. carmaker retained the top slot for 77 consecutive years until 2007 but is set to be stripped of the title amid the financial turmoil and the dwindling global consumption for cars.

The Toyota group's domestic sales slid 5 percent to 2.15 million units, while its overseas sales declined 4 percent to 6.82 million units in 2008.

Toyota overtook GM in terms of global production for the first time in 2007 and has remained in the top slot for two straight years.

Toyota also announced the same day that it will promote Executive Vice President Akio Toyoda, a member of the company's founding family, to president in late June.

The 52-year-old Toyoda is a great-grandson of the late Sakichi Toyoda, who founded the Toyota Motor group in 1937, and also the oldest son of 83-year-old Toyota Motor Honorary Chairman Shoichiro Toyoda.

(Xinhua News Agency January 20, 2009)