Toyota ups 2005 global sales forecast to 8.16 million units
07-28-2005, 10:59 AM
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Toyota ups 2005 global sales forecast to 8.16 million units
Toyota ups 2005 global sales forecast to 8.16 million units - - Reuters / July 28, 2005 - - Source: Automotive News
TOKYO -- Toyota Motor Corp. on Thursday lifted its group-wide global sales forecast to 8.16 million vehicles for this calendar year, up 1.6 percent from the 8.03 million it forecast in December.
The world's second-biggest automaker now expects the group, which includes minivehicles maker Daihatsu Motor Co. and truck maker Hino Motors Ltd., to sell 5.72 million vehicles overseas, revising the forecast up by 130,000.
The revision came after the maker of the Prius hybrid car announced strong growth in global output for the first six months, driven by healthy sales in the United States and Japan, along with domestic rivals Nissan Motor Co. and Honda Motor Co.
The top three Japanese automakers capped a solid first half with double-digit rises in overseas output as they continue to expand in the competitive North American market and fast-growing emerging markets in Asia and Eastern Europe.
Toyota's upward revision brings it a step closer to its target of jacking up global sales to about 8.5 million vehicles in 2006 -- up 14 percent from last year -- and taking 15 percent of the world's auto market some time in the decade from 2010.
With several new factories coming on-line in the next few years including in Texas, Russia and Canada, it is possible Toyota could unseat General Motors as the world's biggest automaker over the next several years.
GM, which sold just short of 9 million vehicles in 2004, has recently cut back North American production to bring output in line with sagging demand.
During the first six months of 2005, the Toyota group built 4.135 million vehicles, up 9.3 percent from a year before. Toyota's parent-only global output rose 9.6 percent to 3.693 million.
Japan's second-ranked Nissan raised its global output by 14 percent to 1.834 million vehicles in the first half as overseas output grew 19.8 percent. Honda built 1.731 million vehicles worldwide, up 11.0 percent from the year before.
Smaller rivals Mitsubishi Motors Corp. and Mazda Motor Corp. reported a fall in output, of 12.0 percent and 1.4 percent respectively, due to sagging U.S. sales.
The world's second-biggest automaker now expects the group, which includes minivehicles maker Daihatsu Motor Co. and truck maker Hino Motors Ltd., to sell 5.72 million vehicles overseas, revising the forecast up by 130,000.
The revision came after the maker of the Prius hybrid car announced strong growth in global output for the first six months, driven by healthy sales in the United States and Japan, along with domestic rivals Nissan Motor Co. and Honda Motor Co.
The top three Japanese automakers capped a solid first half with double-digit rises in overseas output as they continue to expand in the competitive North American market and fast-growing emerging markets in Asia and Eastern Europe.
Toyota's upward revision brings it a step closer to its target of jacking up global sales to about 8.5 million vehicles in 2006 -- up 14 percent from last year -- and taking 15 percent of the world's auto market some time in the decade from 2010.
With several new factories coming on-line in the next few years including in Texas, Russia and Canada, it is possible Toyota could unseat General Motors as the world's biggest automaker over the next several years.
GM, which sold just short of 9 million vehicles in 2004, has recently cut back North American production to bring output in line with sagging demand.
During the first six months of 2005, the Toyota group built 4.135 million vehicles, up 9.3 percent from a year before. Toyota's parent-only global output rose 9.6 percent to 3.693 million.
Japan's second-ranked Nissan raised its global output by 14 percent to 1.834 million vehicles in the first half as overseas output grew 19.8 percent. Honda built 1.731 million vehicles worldwide, up 11.0 percent from the year before.
Smaller rivals Mitsubishi Motors Corp. and Mazda Motor Corp. reported a fall in output, of 12.0 percent and 1.4 percent respectively, due to sagging U.S. sales.
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