Report: Toyota aims to make 8.79 million vehicles in 2013 image

Toyota aims to make a record 8.79 million vehicles in 2013 and 9.5 million in 2014 under the Toyota and Lexus brands, a member of the Toyota labor union federation told Reuters.

The Japanese carmaker also plans to manufacture 3.02 million vehicles in its home market in 2013 and 3.0 million in 2014, sticking to its decision to continue making at least 3 million cars in Japan. According to an unnamed member of the Federation of All Toyota Workers’ Union, Toyota presented these figures to labor unions during pay negotiations.

The world’s largest automaker could not be immediately reached for comment. The increase in production comes during a shift in Toyota’s capital expenditure plan. The carmaker has said it will not build new plants over the next three years except for ones it has already announced investments in, despite a weaker yen boosting its profits. The company has learned from its mistake to expand too fast and then suffer when the financial crisis and the yen’s rise hit.

To achieve its ambitious production plan, Toyota will concentrate on fully utilizing and operating existing plants, senior managing officer Takahiko Ijichi told reporters. In 2012, Toyota regained the title as the world’s largest automaker with a record 8.74 million vehicles produced globally under the Toyota and Lexus brands.