There are milestones — and then there are ground-shifting, era-smashing milestones. And word Tuesday that Toyota dislodged General Motors as the world's biggest seller of cars and trucks for the first time ever (at least on a quarterly basis) is no ordinary bit of business news.
It has been expected, on an annual basis at least. GM is clearly in retrenchment mode and confronts a massive retiree pension and health-care tab the likes of which doesn't burden Toyota. GM Chief Executive Rick Wagoner has vowed repeatedly that his company has no intention of ceding industry leadership to Toyota, and perhaps his team at the Renaissance Center in Detroit can somehow rekindle the company's competitive zest and stage a miraculous comeback.
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