Toyota Motor Corp. said Wednesday
that global automobile production by the company and two units--
Hino Motors Ltd. and Daihatsu Motor Co. --is expected to reach a
record high of 9.94 million units in 2013, up from this year's
expected 9.92 million units.
The estimated growth mainly reflects a boost in the Toyota group's production capacity in North America and Asia, according to the leading Japanese automaker.
The group's overseas production is seen rising 8 pct to 5.96 million units, while output in Japan is expected to slump 10 pct to 3.98 million units, due to the end earlier this year of the government's subsidy program for eco-friendly vehicles.
Toyota also said it expects the group's global automobile sales in 2013 to hit an all-time high of 9.91 million units, up 2 pct year on year, on the back of robust demand in overseas markets.
Sales abroad are projected at 7.87 million units, up 8 pct, led by continued strength in North America and growing demand in Asia.
Sales in Japan are estimated at 2.04 million units, down 15 pct.
The automotive industry is demanding that two key vehicle- related taxes be scrapped in line with the planned two-stage hike in the consumption tax rate to 10 pct from the current 5 pct. Toyota's domestic sales estimate is based on the assumption that the two automobile taxes will remain intact.
Toyota expects sales in emerging markets including China, India and Brazil to account for 47 pct of the group's overall sales in 2013, up 3 percentage points from 2012. The company aims to raise the proportion to 50 pct by 2015.END
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
SEPTEMBER 2, 2014
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