May 07 2013

Toyota is looking forward to set the target of group global production at around 9.9 million vehicles for the year 2013. However Toyota will shelve a plan to achieve annual production of 10 million units for the upcoming year which is a milestone yet to be achieved by any carmaker, expecting sluggish sales of Japanese vehicles to continue in China owing to Senkaku Territorial dispute. But sources said that nevertheless the carmaker is expecting a growth in North America and Southeast Asia on the grounds of car sale.

Earlier, Toyota announced the plan of producing a record 10.5 million vehicles this year but now it lowered the target. It was due to the shrinking demand in Japan following the discontinuation of government subsidies for buying the environmentally friendly vehicles.  

This target also includes the output of Daihatsu Motors Co. and truck and bus maker Hino Motors Ltd. The giant automaker also lowered the target of 8.98 million units of parent-only production to 8.7 million units because of uncertainties of China situation. Domestic Production is now dropping to 10% around 3.1 million units while the abroad production is increasing 6% around 5.6 million units as Toyota is planning to boost output in Southeast Asia.