Toyota Passes GM as Biggest Automaker Amid Global Sales Slump (Bloomberg):

Toyota Motor Corp. ended General Motors Corp.’s 77-year reign as the world’s largest automaker after avoiding the worst of the meltdown in global auto demand.

GM’s 2008 sales fell more than 11 percent to 8.35 million vehicles, according to a company statement today. Toyota posted a 4 percent drop to 8.92 million.

Toyota seized the crown after boosting sales 70 percent since 1999 on demand for fuel-efficient cars in the U.S., Europe and emerging markets. Still, bragging rights may do little to revive growth amid a recession that has forced the Japanese automaker to forecast its first operating loss in 71 years and caused Detroit-based GM to seek a government bailout.

“It’s truly only a symbolic title,” said Rebecca Lindland, an IHS Global Insight analyst in Lexington, Massachusetts. Still, it may put “a lot of pressure on Toyota” as now other automakers will be chasing it, she said.

Toyota is the world’s largest automaker. It is only a symbolic title. Never underestimate the symbolism, though. GM has been surpassed by Toyota. If the Chrysler/Fiat deal goes through, the foreign ownership stake in Chrysler will constitute a majority. Ford is teetering on the brink (GM and Chrysler didn’t even pause as they jumped off the edge). Hmm… I get it, it’s synecdoche! : GM actually refers to the dominance of the American economy, and Toyota refers to the rising Asian economies. If I were writing this script, I would have chosen a Chinese company to refer to the Asian economies … I’m a little more literal. Can something be both symbolic and representational?