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Automotive News calls Toyota world No 1 car maker

DETROIT
Thu Jan 24, 2008 1:27pm EST

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Toyota Motor Corp President Katsuaki Watanabe leaves the stage after presenting the iQ concept vehicle during the 40th Tokyo Motor Show in Chiba, east of Tokyo October 24, 2007. An influential automotive publication named Toyota Motor Corp as the world's largest automaker on Thursday after cutting General Motors Corp's reported total 2007 sales at a China venture. REUTERS/Kim Kyung-Hoon

DETROIT (Reuters) - An influential automotive publication named Toyota Motor Corp (7203.T) as the world's largest automaker on Thursday after cutting General Motors Corp's GM.N reported total 2007 sales at a China venture.

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GM and Toyota both have reported 2007 sales of roughly 9.37 million vehicles, with GM slightly higher than Toyota, but Automotive News said on Thursday more than 516,000 vehicles produced by GM's Wuling joint venture should be excluded, which would push GM to No. 2 on the list.

Following industry practice, Automotive News includes sales only from majority-owned subsidiaries in the global total, it said. GM owns about one-third of the SAIC-GM-Wuling Automobile Co that produces the vehicles, while Shanghai Automotive Industry Corp has 50.1 percent ownership, it said.

(Reporting by David Bailey, editing by Gerald E. McCormick)
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