Toyota will keep its global production target for 2013 nearly unchanged from earlier estimates at 9.9 million vehicles despite a production cut in Japan.
The Nikkei business daily reported the No. 1 Japanese automaker targets an output of 5.6 million Toyota and Lexus vehicles outside Japan in 2013, up more than 6 percent from its 2012 target. Japan manufacturing is forecast at 3.1 million vehicles next year, down 10 percent from this year’s target.
Toyota also cut its Japanese sales target to 1.36 million units for next year, down about 20 percent from its forecast sales for this year. Japan’s car market is expected to shrink in 2013 as subsidies for environmentally friendly vehicles have expired. According to the Nikkei report, Toyota’s global group sales will likely hit a record 9.7 million units this year, beating the 2007 record of 9.37 million sales. These record sales will make Toyota the world’s largest automaker, after in 2011 it was No.3.
Back in November, Toyota had revised downwards its production forecast for 2012 to 9.89 million units due to plunging car sales in China caused by Japan’s territorial dispute with the world’s most populous country. Toyota cut China production by 40-50 percent following anti-Japan protests in September.