Toyota to raise 2012 production to record high; plans merger of three group entities
19 Dec 2011
In expectation of strong demand from emerging markets, Toyota Motor Corp, Japan's biggest carmaker, plans to boost its global production output by 20 per cent to a record 8.65 million vehicles in 2012.
In 2007, it had produced a record 8.53 million vehicles.
Toyota anticipates continued growth in emerging markets in Asia and South America to push up demand even though sales outlook in developed nations could be affected by the European debt crisis.
Toyota is expected to decide on its annual production target for 2012 next week before intimating its major parts suppliers.
Quoting unnamed company officials, Kyodo news agency said Toyota was in the final stage of setting a 2012 global production target for Toyota and Lexus-brand vehicles.
Recently, Toyota lowered its annual net profit forecast by 54 per cent for fiscal 2012, citing the extensive flooding in Thailand, its manufacturing hub, and a strong yen. (See: Toyota slashes net profit forecast by 54 per cent)
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