Toyota Motor Corp. appears poised to regain its position as the world's largest automaker, a remarkable turnaround after years of safety recalls, huge federal fines and the Japanese earthquake last year. In short order, surging sales have put that all in the rearview mirror. Toyota is likely to sell 9.7 million vehicles this year, surpassing second-place General Motors Co. by more than 1 million vehicles and setting a record for annual auto sales. That's generating huge profits, with earnings tripling in the latest quarter to $3.2 billion and sales surging almost 20% compared with a year earlier. The U.S. — where Toyota's reputation suffered most through the recalls — is now a cash cow. Through the first 10 months of the year, the Japanese automaker sold more than 1.7 million cars and trucks in the country, a 30% gain and more than double the industry growth rate. "Toyota has done some smart things," said Rebecca Lindland, an analyst with IHS Automotive. "They have concentrated a lot of time and effort on the U.S., which is incredibly important because they make so much money here." Read more http://www.latimes.com/business/autos/la-fi-autos-toyota-comeback-20121124,0,4729058.story
