JAPAN: Toyota on target to make 10m+ units a year

By Chris Wright | 6 August 2012

Toyota is on track to becoming the world's first carmaker to produce more than 10m vehicles a year on a groupwide basis.

It has announced plans to increase its combined vehicle output with subsidiaries Daihatsu and Hino by 28% year on year to 10.05m in 2012.

Toyota alone will raise production by 28% to 8.87m while Daihatsu is looking to increase by 25% to 1m and Hino will produce 180,000 units, up nearly 40%.

The Toyota group manufactured a record 9.5m units in 2007 but, since the global economic crisis hit, output dropped to 7.23m in 2009.

This year, vehicle sales in Japan are forecast to jump 30% or more, driven by government subsidies for environment friendly vehicles, but European sales are declining because of the debt crisis. Growth is anticipated in North America where demand is recovering. Toyota also plans a southeast Asian offensive.

The company has also boosted its global sales target for 2012 by 180,000 units to 9.76m, up 23% over last year.

The company said planned production exceeds the sales goal by about 300,000 units because of shortages of display models for foreign dealerships. Inventories also need to be replenished.