Toyota Might Be the First Automaker to Surpass the 10 Millionth Annual Sales image

Toyota increased the global production target for the Toyota and Lexus vehicles in the April-September period by about 150, 000 units, surpassing the 4.5 million units reported by Nikkei.

Thanks to output from Daihatsu and Hino Motors, Toyota’s global output will most likely surpass the goal of 9.94 million units for this year and might even surpass the 10 millionth annual milestone for the first time by any car maker in the world. Toyota will increase domestic output by 150,000 during these six months to almost 1.65 million.

The automaker made this move, as its all-new Crown and the Aqua subcompact hybrid have met strong sales. Toyota also expects its SUV exports from North America, Japan and the Middle East to see an increase. The production plans beyond October have remained unchanged, but the automaker is confident that domestic output this year will exceed 3.1 million units.

Outside Japan, the automaker plans to increase production in North America, where demand is still strong. Sales in China are expected to revive after the territorial dispute between the two nations. Two weeks ago, when Toyota reported its results for fiscal year 2012, the company also said it plans to boost global output by 4% annually to 10.1 million units in the fiscal year ending March 2014.

Source: Fox Business