One, Two Punch

We're Number Two!! We're Number Two!! Reuters (12.20.05):

"Toyota Motor Corp. forecast on Tuesday it would increase output by 10 percent next year to a record 9.06 million vehicles, a level that could see the Japanese group overtake General Motors Corp. as the world's top car maker. A switch at the top could come just three years after the maker of the Camry sedan unseated Ford Motor Co. for the No. 2 spot in 2003 as it raced to add capacity in every corner of the world to meet red-hot demand." Toyota has GM in its sights

Wall Street reacts rather unenthusiastically. Reuters (12.20.05):

"Shares of General Motors Corp. fell to an 18-year low on Tuesday after Toyota Motor Corp. unveiled production plans for 2006, increasing fears that GM will be toppled by its Japanese rival as the world's largest automaker." GM shares fall to 18-yr low on Toyota forecast

GM has been getting it handed to it lately. Think it's bad now? Ha! And just wait until GM has to start carrying more of its retiree health-care liabilities on its balance sheet.