Toyota aims to expand 2011 global sales by 3%

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