Toyota could become the the first carmaker to break through the 10m vehicle annual production barrier this year.
Company sources told Reuters the carmaker will raise its group global vehicle production target for this year to around 10.1m, up from 9.94m in anticipation of stronger than expected sales in Japan as well as increased exports.
The target includes output by group firms Daihatsu and Hino while the Toyota brand will set its target at 8.9m. Domestic output will be increased by around 200,000 units to over 3.3m amid steady sales of hybrid vehicles in Japan.
However, overseas targets may be revised downward from 5.6m units announced last year because of signs of a slowdown in Asian emerging economies. Toyota will announce its new targets on Friday (2 August) together with its April-June quarter earnings results.
The carmaker had targeted the 10m production goal last year but the actual production volume stood at around 9.9m, dragged down by weak sales in China in the wake of a territorial row and ensuing boycott of Japanese products.
In the first half of 2013, Toyota produced 5.05m units globally, down 3.7% from a year earlier.