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In December 2005, Toyota, Japan''s largest automobile maker announced that it would increase its global production by 10%, to 9.06 million units in 2006. This made industry analysts take note of the fact that Toyota''s estimates exceeded General Motors'' (GM) estimated production of 9 million units. Therefore, experts began to analyse if Toyota, already the second largest automobile maker in 2005, would replace GM to obtain the top slot. The case discusses in detail Toyota''s performance from 2000 to 2005 and lists the growth plans and strategies adopted. The performance of GM during this period and its turnaround plan for 2006 onwards are also discussed. The case gives ample scope for discussion on whether, given the performance and challenges faced by both Toyota and GM, it is possible for Toyota to become the world''s largest automobile maker, replacing GM.