Sales soar for Toyota
TOYOTA could reclaim its position as the world’s biggest carmaker after it forecasted a 20 per cent leap in sales to a record 8.48million vehicles in 2012.
The Japanese firm, likely to be ranked third this year behind General Motors and Volkswagen after production was hit by the tsunami in Japan and Thai floods, said it would benefit from pent-up demand in 2012.
It said Japanese sales of its vehicles, including Toyota, Lexus and Scion, would rise 28 per cent over the year with international sales up 19 per cent as it increased production.
“The target is achievablegiven Toyota is quickly recovering production and launching new models” said Lee Hyun-soo of analysts Kiwoom Securities.
** CLICK HERE TO CLAIM A FREE COPY OF ONE OF OUR MONEY & FINANCE GUIDES **
There will be cut-throat competition between GM, Toyota and Volkswagen for the top spot next year
“There will be cut-throat competition between GM, Toyota and Volkswagen for the top spot next year.”
However others warned that Toyota’s target may be too optimistic as growth in India and China slows and Europe struggles through the debt crisis.
“Investors will be sceptical,” said analysts Chibagin Asset Management.
“There might be a slight gap between the company’s numbers and what investors expect.”
