Toyota plans selling 9.85 mn vehicles in 2008

Toyota plans selling 9.85 mn vehicles in 2008


Japan: Toyota, in a neck-and-neck race that could dethrone General Motors as the world’s top automaker this year, said Tuesday it plans to sell 9.85 million vehicles globally in 2008.

Toyota also said it plans to produce 9.95 million vehicles worldwide during the same year, up 5% from this year, the same percentage jump for the automaker’s global sales.

Toyota Motor Corp.’s targets, announced at a hotel in Nagoya, near company headquarters, far surpasses the 9.3 million vehicles General Motors has given as its estimate for production this year.

GM has not given a forecast for the number of vehicles it expects to produce or sell in 2008. GM has been fiercely fighting back and boosting its overseas business to try to retain the top industry spot, which it has held for 76 years.

Toyota has grown steadily in recent years along with the popularity of its models such as the Camry sedan, Corolla subcompact and the Prius gas-electric hybrid.

Soaring gas prices have dramatically boosted the appeal of smaller fuel-efficient models that are Toyota’s trademark.

Demand for Toyota models has been growing in almost every region, including the US and new markets such as China, South America, Russia and India.

If Toyota achieves its target, it would put the company far ahead of the industry record of 9.55 million vehicles sold by GM in 1978. GM sold 9.1 million vehicles around the world in 2006.

After the first nine months of this year, Toyota was at 7.05 million vehicles sold worldwide, trailing Detroit-based GM’s sales of 7.06 million vehicles for the same period.

The final tally for this year’s numbers won’t be out until January next year. In August, Toyota set a global sales target of 10.4 million vehicles for 2009.