Toyota passes Ford on Fortune Global 500
Fortune magazine has released its Global 500 list, and while automakers still rank near the top in yearly revenue (the basis for the rankings), there's been some reshuffling in the ranks. GM still maintains 5th, behind Wal-Mart and the Big 3 oil companies, and is the only automaker near the top of the list to see a drop in revenue from the previous year. Most significant is Ford's fall of two places, from 6th to 8th. DaimlerChrysler took the 6th spot, while Toyota moves up one spot to 7th. The big climber in the auto world this year was Renault, moving up 9 spots to 80th on the strength of 19.2% revenue growth (outpacing even Hyundai). You can see how all the of included car companies placed here. The good news is that while none of the auto companies made the most-profitable list, none of them racked up the worst losses, either. If you're looking for profitability, look no further than the oil companies. 3rd-place finisher Exxon Mobil set a new record with $25B in profit last year.
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