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Toyota to raise annual output target by 3%
Toyota to raise annual output target by 3%, report says
Posted Monday, Aug 10, 2009, 1:24 pm in Employee News
Toyota Motor Corp. plans to raise its global output target for the fiscal year ending in March 2010 by three percent to 6.5 million units, the Yomiuri newspaper said, in the latest sign of a nascent recovery in auto demand, Reuters reported.
Toyota’s inventory adjustment has run its course, and sales are picking up due to various government measures around the world to simulate demand for new cars, the paper said today. Governments from Tokyo to Berlin and Beijing have offered subsidies and tax incentives to encourage consumers to buy new fuel-efficient models to boost their auto industries, hit hard by the global downturn and ensuing sales slump.
The Yomiuri report comes five days after Toyota, the world’s largest automaker, trimmed its annual operating loss outlook by 100 billion yen ($1 billion) and edged up its group-based global vehicle sales forecast for the current financial year by 1.5 percent to 6.6 million units, the publications said. Toyota officials were not immediately available for comment, the story said. (Reuters/Automotive News)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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