Toyota Output Sets Industry Record
Baku, January 30 (AZERTAC). Toyota Motor Corp. said Wednesday it produced more than 10 million vehicles world-wide last year, making it the first auto maker to post annual output above that threshold.
The record volume comes as the Japanese car maker is setting its sights on exceeding that same number in vehicles sold this year--which would also be an industry record--counting on solid demand in the world's two biggest auto markets, China and the U.S.
Toyota has rebounded after several tough years, encompassing the 2008 recession, several large global recalls and production disruptions following the 2011 earthquake and tsunami.
The company said it produced 10.12 million vehicles globally in 2013, up 2.1% from the previous year. Higher output in the Americas and Europe offset sluggish production in its home market. Output in Japan fell 3.9% to 3.36 million, though still higher than the three million level the company aims to maintain annually. Toyota is looking to bolster production locally by taking advantage of Japanese technology and manufacturing skills.
The Toyota group sold 9.98 million vehicles world-wide in 2013, the company said last week, retaining the crown as the world's biggest auto maker. Toyota plans to boost global sales to 10.32 million vehicles and increase production to 10.43 million in 2014.
The car maker's global production and sales numbers include vehicles sold and produced by its small car-making division Daihatsu Motor Co. and its truck-manufacturing subsidiary Hino Motors Ltd.
Despite Toyota's gains, competition is intensifying in the global market. Its two biggest rivals, General Motors Co. and Volkswagen AG, are also poised to top 10 million in vehicle sales this year after selling 9.71 million and 9.7 million vehicles, respectively, in 2013. The two car makers haven't yet released global production data for 2013.
Another challenge for Toyota is decelerating demand in some crucial growth markets such as India as their economies slow, clouding the outlook for the company's long-term global sales.
Other large Japanese car makers also reported strong global output for 2013.
Nissan Motor Co., the country's second-biggest car maker by volume, said its global production rose 1.3% to an all-time high 4.95 million vehicles last year. Higher sales in the U.S. and China on the back of solid demand offset lower production in other countries.
Honda Motor Co., Japan's third-biggest car maker, produced a record 4.30 million vehicles world-wide, up 4.5%, as it boosted output in the U.S. and Asia excluding Japan.
Other news in this section
