The Japanese automaker is looking to make a major comeback after a disastrous 2011
December 28, 2011
by The Canadian Press
TOKYO—After a devastating 2011, Toyota says it’s ready for a comeback, targeting record global sales of 8.48 million vehicles in 2012 and an even bigger number in 2013.
Japan’s top automaker relinquished its title as the world’s biggest in global vehicle sales for the half of 2011, falling behind Detroit-based General Motors Co. and Germany’s Volkswagen AG.
Toyota’s global vehicle sales for this year totalled 7.9 million vehicles, including group companies, down 6 per cent from the previous year.
The company’s targets for 2012 and 2013 don’t include group companies such as Daihatsu Motor Co. and Hino Motors, and so aren’t directly comparable with numbers from GM and Volkswagen.
But it says its sales target for 2012 is based on achieving 20 per cent growth from its global sales this year and would be a record high for the company, underlining its turnaround ambitions.
The automaker’s current sales record of 8.43 million vehicles was attained in 2007.
“It won’t be a surprise to me if Toyota reaches a new record in global sales,” says Mamoru Katou, auto analyst at Tokai Tokyo Research. “Hybrids remain popular in Japan, the Camry sedan is doing well in the U.S. and demand is robust in emerging markets.”
Toyota has been making up for sales declines in North America and Japan with momentum in relatively new but booming markets such as China and India.
By 2013, Toyota plans to sell 8.95 million vehicles around the world—not including group companies.
The company did, however, acknowledge the uncertainties surrounding the world’s automotive markets, but says a possible plus is the extension of Japan’s government incentives for green vehicles.