Toyota Motor plans to set a target of around 6.3m units for global vehicle production in the 2009 business year starting 1 April, down about 10% year on year, sources familiar with the matter have said.

Compared with its record high output of 8.68m units in the 2007 business year, the target for the upcoming year is lower by about 2.3m units - more than the annual production of a mid-ranking domestic automaker such as Mazda or Mitsubishi, the sources told Agence France-Presse (AFP).

On Monday the Nikkei business daily had reported Toyota planned to cut parent-only global automobile output 20% in fiscal 2009 to 6.5m units.

Toyota usually announces production and sales targets for an upcoming year at the end of the preceding calendar year but it did not last December, saying it was too difficult amid rapidly deteriorating global economic conditions.

It is now expected to present its output and sales targets for the 2009 business year tomorrow (27 February) as they are necessary to help auto parts makers and other business partners make business plans for the upcoming year, according to the sources.

Toyota has cut production this year for a total of 17 days during the January-April period and hopes that inventories will be low enough by the end of April to increase output gradually from May.

But, given that the global new vehicle market has yet to touch bottom, Toyota's targets could deviate downward, the sources told the news agency.