Toyota Will Exceed Their Own Expectations
Toyota finds another 3% in production output
By Brendan Moore
A newspaper in Japan, the Mid-Japan Economist, has reported that Toyota plans to produce 8.74 million vehicles worldwide in 2007, which will put it 270,000 units over its own previously announced forecast. Toyota would not confirm the report, and the newspaper would not cite its source, but the Mid-Japan Economist itself is 30% owned by Toyota Corporation, so the report is considered reliable.
Toyota said in late 2006 that it would produce 4.27 million units in Japan and 4.2 million units in overseas plants (excluding subsidiaries Hino and Daihatsu). The new plan, as reported by the newspaper, calls for 4.25 million units made in Japan and foreign output of 4.49 million units. Additionally, this production, combined with the Hino and Daihatsu output, will put it ahead of General Motors for the No. 1 auto producer spot in the world.
If the new forecast holds, it will be the first time in Toyota’s history that it will produce more vehicles overseas than in Japan. Toyota is experiencing the same high level of demand for its vehicles in the rest of world that it does here in the U.S., and has been on a global building spree in order to satisfy demand for its products. Toyota, however, tends to play it close to the vest in terms of discussing any expansion plans, not wishing to stir up any anti-Japanese sentiment in any of the countries it is currently building production plants in, particularly if those countries already have a domestic car industry.
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