Toyota Motor is forecasting sales of 10.77m vehicles worldwide during 2020, nudging it closer to top automaker Volkswagen, a media report said.
Bloomberg said the automaker's outlook, which includes vehicles sold by subsidiaries Daihatsu Motor and truck maker Hino Motors, shows slight growth from an estimated 10.72m units this year. Volkswagen sold 10.8m units in 2018 and said in October it expected deliveries to be little changed this year.
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Toyota is among automakers still delivering better than anticipated results, Bloomberg noted. Even so, it forecast it would sell 4% fewer vehicles in Japan next year, or 2.26m units.
As electric motors, autonomous capabilities and new mobility services disrupt the industry, Toyota has been forging alliances, adding Suzuki Motor, Mazda Motor and Subaru through partnerships and equity stakes.
Bloomberg noted alliances are becoming ever more critical in the global auto industry as manufacturers seek to pool resources and save costs. Ford has teamed up with Volkswagen, while Honda and General Motors are working together.
