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Toyota to push for record 2012

2011-12-23 10:13

TOKYO, Japan - Toyota forecasts a 20% jump in 2012 sales to a record 8.48 million vehicles, as it recovers from output losses caused by natural disasters in Japan and Thailand this year.

Toyota, the world's top carmaker since 2008, is set to lose its crown to General Motors after supply-chain disruptions from the March 2011 earthquake and tsunami in Japan and October’s flooding in Thailand hit production around the world.

With estimated sales this year of 7.90 million vehicles for the group, which includes units Daihatsu Motor and Hino Motors, Toyota will likely rank third behind General Motors and German group Volkswagen.

Toyota could regain the top spot in 2010 as it builds inventory to meet pent-up demand and adds output capacity in Brazil and China, among other countries. GM and VW have not disclosed 2012 sales plans.

MOODY'S CUT


Separately on Thursday, Moody's said it may cut Toyota's ratings because of "the likelihood that the recovery in Toyota's profitability will be more protracted than anticipated due to the company's significant exposure to the strong yen.”

Toyota's plan for 2012 compared with its previous peak of 8.43 million vehicles in 2007.

Lee Hyun-soo, an analyst at Kiwoom Securities in Seoul, said: "I believe the target is achievable given Toyota is quickly recovering production and launching new models.
"There will be cut-throat competition between Toyota, GM and Volkswagen for the top spot in the global market next year (2012)."

VW is also eyeing the top global ranking, with a sales goal of 10 million vehicles in 2018. The group logged 7.51 million deliveries for the first 11 months of this year, after a 15% gain in November, 2011.

VW sales chief Christian Klingler said: "Our target to top an annual eight million units for the first time is within reach."

RECOVERY MODE

Toyota president Akio Toyoda has said he was not interested in a race to be the biggest automaker. Measured by stock value, Toyota is way above its rivals, at $111 billion - more than GM and VW combined. At its peak in 2007, Toyota was valued at more than twice that.

Once the envy of the auto industry, Toyota has had a torrid couple of years - from a quality crisis that triggered the recall of more than 10 million vehicles globally and a tarnished image to a subsequent slide in sales.

Toyota has also lagged because of a relatively slow push into emerging markets as it scrambled to meet runaway demand in mature markets, such as North America in the years leading up to the global financial crisis.

Toyota now aims to sell half its cars in emerging markets by 2015, up from around 40 percent. But with growth in developing markets such as China and India slowing and Europe in the middle of a debt crisis, some said Toyota's plans may be optimistic.

Toyota also announced plans to sell 8.95 million Toyota, Lexus and Scion vehicles worldwide in 2013 and build 8.98 million vehicles. It gave no regional breakdown for forecasts outside Japan. It plans to build 3.40 million vehicles and sell 1.53 million vehicles at home in 2012.

Reuters

Comments
  • Trevor - 2011-12-23 16:22

    Toyota is experiencing some wishful thinking it would seem...very much doubt they'll be number 1 ever again, just to much competition after the recession...industry and public needs have changed...Chinese are killing he world market along with the Koreans...they doing what the Japs did in the 70/80's to the English and Americans

      Sbongseni WaseMlazi - 2011-12-24 18:25

      They are appealing to the lowest denominator. They have just revived TRD with Subaru there is FT 86. Trust me they will.

      Sbongseni WaseMlazi - 2011-12-24 18:36

      They are appealing to the lowest denominator. They have just revived TRD with Subaru there is FT 86. Trust me they will.

      Sicebi - 2011-12-25 09:48

      Being number 1 in sales but after a while you need government bailout because you are just producing crap in numbers with an inefficient operation(GM) or the quality of the stuff you produce is questionable (VW) is pointless. Quality of the product, operation and profitabilyt is more important. Toyota has gone through some bumps but they will come back, and they do not need to be number 1. I'd rather be Porsche or Toyota than GM.

  • James - 2011-12-25 18:03

    2011 Toyota sales in the US -8% Lexus -16% and unlikely to recover accoprding to Bob Lutz.

  • Vickers - 2011-12-27 07:44

    Toyota is dominating 3rd world countries with the Hilux. In these markets the customer needs an uncomplictaed reliable vehicle. In most European countries they rarely have a model in the top 10. Take a look at http://bestsellingcarsblog.com/ for info on sales all over the world.

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