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Toyota Outsells GM for Fifth Quarter Amid Yen-Led Recovery

Toyota Motor Corp. outsold all automakers for a fifth straight quarter as the yen’s depreciation sharpens the Japanese company’s edge over General Motors Co. and Volkswagen AG.

Worldwide sales at Toyota, including those of subsidiaries Hino Motors Ltd. and Daihatsu Motor Co., reached 2.43 million units in the January-to-March period, spokeswoman Shino Yamada said today. That compares with GM’s 2.36 million units and VW’s