Toyota Motor Corp plans to become the
first automaker to sell 10 million
vehicles in a year in 2009. Toyota
said on August 31 it plans to sell
10.4 million vehicles in 2009. Toyota
expects vehicle sales to surge 6.1% in
2009, the company said.
General Motor's holds the record,
selling 9.55 million vehicles in 1978.
The 10.4 million units Toyota plans to
sell will include sales of its mini
vehicle arm Hino Motors Ltd and truck
making unit Daihatsu Motor Co, a
Toyota release said.
In 2006, Toyota and its units sold a
combined 8.81 million vehicles,
ousting Detroit-based General Motors
as the world's biggest automaker.
Toyota is the world's biggest
automaker by market value. It has a
market capitalization of $200 billion.
Toyota 's sales projection for 2008 is
9.8 million vehicles.
To achieve this feat, Toyota is
stepping up production at its plans in
Europe, North America and China, the
company said.
Toyota 's fuel-efficient vehicles have
already made a dent into sales of GM
and Ford as fuel prices have
skyrocketed. Currently, sixty percent
of Toyota's operating profits come
from the US. Toyota plans to cut this
down, though no figures were projected
on this.
Toyota President Katsuaki Watanabe was
quoted as saying the company wants to
keep the growth momentum as well as
raise the quality bar. As growth slows
in US, Europe and home turf Japan,
Toyota is shifting focus to BRIC
countries – Brazil, India, China and
Russia.
Toyota 's estimate of 10.4 million
includes 3.1 million vehicles in North
America and 2.4 million in Japan, the
company said.
Europe will contribute 1.45 million
units in Toyota's projection, while
1.9 million units would be sold in
Asia.
Toyota also expects its sales to zoom
in China to 1 million in the next
decade, from this year's projected
4,30,000, which is a jump of 40% from
2006.
But as Toyota marches ahead with its
aggressive expansion plans, rivals GM
and Ford Motor Co are struggling. GM
is shutting 12 of its North American
plants and Ford intends to shut nine
plants by 2009.Together this would
result in about 75,000 job cuts.
The US automakers erred in relying too
much on light trucks, which contribute
more than 65% of their sales, while
their Japanese peers gained from more
fuel-efficient vehicles due to surging
gasoline prices.
In the first seven months of this
fiscal, Toyota's sales rose 6.1% to
1.56 million units, while GM saw a
decline in sales of 9.4% at 2.2
million. Ford Motor Co sales plunged
12% to 1.57 million units.
Toyota's plans to open a unit in Camry
sedans in Russia this year and hike
production in China, the world's
second biggest auto market where the
GDP is growing at more than 10%.
In research and development also,
Toyota aims to hike spending by 5.5%
to 940 billion yen, the company said,
in a bid to develop new cars.
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