A report carried by Kyodo News Agency says that Toyota plans to raise its 2002 Japanese production total by 4 percent from its initial target due to higher than expected demand in the US market.
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The report says that Toyota now plans to produce more than 3.35 million units this year, compared with 3.2 million initially projected.
Citing industry sources the report adds that it would be Toyota’s first increase in domestic output in two years. Domestic demand remains depressed.
Other Japanese makers are announcing plans to accommodate higher demand in the US. Where possible, manufacturers are increasing overseas production to supply the US market (eg Honda Alabama) due to the effects of the weaker dollar against the yen making it less attractive to ship from Japan to the US.
