Toyota gears up to move into the fast lane
Friday 23 December 2011
The Japanese car maker Toyota aims to step up a gear in 2012, increasing sales by a fifth to a record 8.4 million vehicles.
The fallout from the Japanese earthquake and floods in Thailand have hit Toyota's supply chain and damaged its production facilities, while the strong yen made its products more expensive overseas.
As a result, it had to halve its 2011 profit forecast this month, and yesterday the group added that global sales would be down by about 6 per cent this year to 7.9 million vehicles. That means Toyota is likely to lose its position as the world's biggest car maker, with General Motors and Volkswagen expected to leapfrog it.
Analysts said the car maker could well regain its crown if it meets its sales targets, although even a Toyota spokeswoman admitted it was an ambitious aim.
Lee Hyun-soo, an analyst at Kiwoom Securities in Seoul, said he believed the target "was achievable". But Chibagin Asset Management's analyst Fujo Ando said: "I think some investors are somewhat sceptical that they will reach these numbers."
Toyota plans to step up production by a quarter to a record 8.6 million vehicles.
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Greece debt crisis explained: A history of just how the country landed itself in such a mess
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Greek debt crisis: Yanis Varoufakis's funniest (and most memorable) quotes
- 5 The biggest first date turnoff has been revealed
Greece debt crisis explained: A history of just how the country landed itself in such a mess
Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
Man dies instantly after shooting firework from top of his head
Isis schoolgirl Amira Abase who fled London to join terrorists in Syria mocks victims of Tunisia massacre
Father faces deportation to Thailand after 27 years in Britain for two 'stupid crimes'
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Greece crisis: IMF was pushed around by Angela Merkel and Nicholas Sarkozy – and now it is being humiliated
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
iJobs Money & Business
competitive: SThree: Are you passionate about sales?Do you have a keen interes...
£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...
£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...