Toyota outsold General Motors and Volkswagen AG to lead the global auto industry for the second straight year and forecast more than 10 million in sales for 2014 on rising demand in the US and China.
The company said in a statement on Thursday that its sales rose 2 % in 2013 to 9.98 million vehicles and with the weaker Japanese currency still helping it compete against global rivals, Toyota expects annual group sales to top 10 million vehicles for the first time this year.
The 2014 target of 10.32 million vehicles, including sales from affiliated companies Daihatsu Motor Co and Hino Motors Ltd, would represent growth of 4 percent from last year. The Toyota group plans to manufacture 10.43 million vehicles globally this year, up 3 % year-on-year.
GM sold 9.71 million vehicles last year, up 4 % year-on-year, while Volkswagen said its sales rose around 5 % to more than 9.7 million vehicles. The German automaker has pledged to surpass GM and Toyota to become the world’s largest automaker by 2018.
Toyota regained the global sales crown in 2012, after slipping to third place behind GM and Volkswagen in 2011, following natural disasters in Japan and Thailand. Previously, Toyota had been on top from 2008 through 2010.