Toyota Motor Corp said on Tuesday it expects global sales to grow 3% to 7,7-million vehicles next year with shrinking purchases in Japan offset by growing overseas demand.
The world’s No 1 automaker is targeting sales of 1,3-million vehicles in Japan, down 17 percent. It hopes to sell 6,4-million vehicles outside Japan, up 8%.
The expiration of a government subsidy for fuel-efficient cars is taking a big toll on auto sales in Toyota’s home market. An industry body warned last week that Japan’s auto sales would fall 9,9% to 4,47-million vehicles in 2011 — the lowest level in 34 years.
The story is brighter in overseas markets, particularly emerging economies like China and elsewhere in Asia.
As a result, it will cut domestic output by 5% to 3,1-million vehicles while expanding overseas production by 6% to 4,6-million vehicles.
Toyota estimates that its global sales this year grew 7% to 7,48-million vehicles.
The figures do not include estimates for units Daihatsu Motor Co and Hino Motors Ltd. — Sapa