Toyota seeks to boost production by 20%

Toyota has said it plans to increase production by 20% next year as it tries to recover ground lost due to March’s earthquake in Japan and the recent floods in Thailand.Toyota seeks to boost production by 20%The company aims to produce 8.48 million vehicles in 2012 and increase sales by a quarter to 8.65 million.

Toyota is due to lose its crown as the world’s biggest carmaker this year to the US’s General Motors (GM).

Earlier this month, the carmaker halved its profit forecast for this year.

It now expects a net profit of £1.5 billion (180bn yen) for the year ending 31 March 2012, compared with its previous forecast of £325 billion made in August.

Given the current global economic climate, and the possible impact of the eurozone debt crisis on European demand, some analysts think Toyota’s production plans were a little optimistic.

Japanese carmakers have had a tough year so far, with both the March earthquake and Thailand’s disaster affecting production, and the strong yen – which increases the price of exported cars – putting pressure on sales overseas.

Toyota has also suffered reputational damage due to recalling about 12 million cars in the past two years.

However, some observers still expect the Japanese giant to recover its position as the world’s top carmaker, a position it has held since taking over from GM in 2008.

December 28, 2011  Tags: , , , , , , ,   Posted in: Business Growth, Business Sales, Business Win, Exporting Businesses, Global Businesses, Growing Business, Uncategorized, Winning Business

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