Toyota Motor plans to increase its annual global production of vehicles with the Toyota and Lexus brand names in 2012 to a record 8.9m units as supply chain conditions have improved since the March disaster, company officials have said.
The new target – 3.5m units in Japan and 5.4m units overseas – will be the largest for the leading Japanese automaker, exceeding the 8.53m units achieved in 2007 and 7.15m planned for 2011, Kyodo News reported.
Go deeper with GlobalData
Its group vehicle production could reach 10m units if output of affiliates Daihatsu Motor and Hino Motors are added.
Toyota will mainly increase the production of eco-friendly vehicles in Japan by launching a new hybrid model, which is smaller than the Prius hybrid, and establish plants in China and Brazil to further expand its operation in emerging markets, the officials said.
By setting a high goal well in advance, the automaker is apparently giving time for its business partners such as parts suppliers to be fully prepared, Kyodo noted.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
