Toyota Motor Corp beat rivals General Motors and Volkswagen as the top selling automaker in 2012, posting record-high sales according to Reuters.

Toyota stated this week that they sold approximately 9.75 million vehicles world-wide last year, a record for the 75-year-old company. The number shows an increase of more than 22.6 percent from this time last year as well.

The company saw sales numbers increase drastically in December, which helped Toyota lock up the top spot again after losing it in 2011.

Toyota sales were hurt by negative publicity received due to a massive recall in the U.S., and also by a massive earthquake in Japan and floods in Thailand which halted supplies temporarily.

"Toyota has fully recovered from the earthquake and natural disasters a year earlier," said Satoshi Yuzaki, Tokyo- based general manager at Takagi Securities Co to The Washington Post. "Japanese carmakers, including Toyota, will continue to benefit from an extremely strong U.S. market."

Toyota was the top selling automaker from 2008 until 2010, but placed third in 2011, behind GM and Volkswagen according to Reuters.

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The Japanese company hopes to build upon last year's number by increasing it 1.6 percent to 9.91 million vehicles sold world-wide.

GM sales increased to 9.28 million in 2012, up 2.9 percent compared to a year ago, but it wasn't enough to stop Toyota.

"In terms of GM returning to the lead, I certainly wouldn't count them out, especially with the product they're set to introduce this year," said Mike Wall, IHS Global Insight to CNN. "I actually think all three will be huddled close together for the next few years."

Nissan Motors said they sold approximately 4.94 million vehicles globally in 2012, and Honda Motors sold 3.82 million, up a total of 19 percent.  Volkswagen improved 11.2 percent, selling 9.07 million vehicles world-wide.

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