A quarter makes a lot of difference and who knows it better than the corporate world. This is more so in the case of the automotive industry where players live and swear by quarterly figures (read: Sales). Hence, when the January-March 2007 quarter sales figures for the auto industry, globally, began to pour in, critics' (and `so experts') worst fear was coming true. General Motors (GM) was dethroned from the No. 1 spot by its Japanese rival Toyota. GM was humbled only twice in the past (during the 1970s and 1990s) that too by its arch rival Ford after it surpassed the latter in the 1920s to became the largest carmaker for the first time. For Toyota, the Japan-based makers of such hot-selling models like Camry and Lexus, however, the way to the top has not been an easy one and it deserves all the accolades for triumphing in a market dominated by not one or two, but three big Detroit giants—GM, Ford, and Chrysler—also called, the Big Three. Powering Toyota's way to the top has been its unstinted focus on such aspects as quality, design, producing fuel-efficient and environment-friendly vehicles (its hybrid model Prius has been a runaway success in the US). However, the news has not been taken kindly by the `Big Three' and their supporters, as they blamed the debacle on the `playing field', which they alleged was not level. Their main grudge is that the foreign rivals do not have to cope with such things like legacy costs (employee pension and healthcare costs) which have been a big drag on the finances of the US auto majors. While Toyota has been cautious not to overplay its latest achievement, hanging on there at the top for long is not going to be easy as GM and Ford step up on the gas. Further, if Chrysler goes to GM (as former's parent DaimlerChrysler is hell bent on getting rid of the struggling US subsidiary), it would further help GM.
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