(The Toyota FT-HS hybrid sports concept car)
Last year Toyota was ranked number 5 in Fortune Magazine's Global 500 annual ranking of the world's largest companies.
In 2009 Toyota fell to number 10 in a list that is completely dominated by oil companies. In fact only Toyota and the ING group are the only two companies in the top 10 that are not directly in the oil business.
According to CNN and Fortune:
"Ending two consecutive years of record
earnings, Toyota saw sales fall 11% and reported its first operating
loss since 1938. The Japanese exporter became so interested in wooing
customers to its lots that it followed other companies and unveiled its
first interest-free financing program toward the end of the year.
To
refocus, the company is now getting back to the basics. Its first step:
Recently letting Akio Toyoda, the grandson of founder Kiichiro Toyoda,
take over as president."
The next biggest car companies on the annual list are:
14. Volkswagen
18. General Motors
19. Ford
GM fell from 9th place on the list in 2008 down to 18th place in 2009 because of the recent crash in the car market.
You cam see the complete list of the Fortune Global 500 2009 rankings HERE.
