Toyota to dramatically outspend GM in capital investment
As Toyota continues to rake in money hand-over-fist, it intends to bolster its fight for the #1 spot by increasing the money it spends on capital investment. The company's latest financial report pegs the automaker's capital spending for the current fiscal year at a whopping $14 billion - a fair amount more than the $12 billion analysts expected. For contrast, consider that General Motors, the current worldwide sales leader, expects to spend only $8.7 billion in its current fiscal year (OK, so that's not exactly chump change).
Much of the spending increase comes as Toyota attempts to wrestle away more light-truck market share from GM, building on the gains that its has made in the past half-decade. Toyota's share of that market increased from 10% to 14% in the last five years, corresponding with a similar drop in share by GM.
[Source: Washington Post]
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