Toyota, the largest auto group in the world, wants to increase production by 24% next year, a new record level of 8.9 million cars, part of a recovery in the months after the decline after the earthquake in March, announced a source close to the situation for Reuters.
The target of 8.9 million vehicles next year, which includes the production of Daihatsu Motor and Hino Motors divisions, will exceed the previous record of 8.53 million units, recorded in 2007, before the global crisis began.
A Toyota spokesman declined to confirm the information, saying that the group offers providers data on what to expect, but it does not make such plans public.
Toyota increased its production target by 350,000 cars this year to 7.15 million, following a faster recovery of the supply chain.
The group had an operating loss in the first fiscal quarter, April-June, for the first time in the last two years, caused by the devastating earthquake in March in Japan and the appreciation of yen, but raised the profit forecast for this year, relying on a rapid recovery.
Toyota has recorded an operating loss of 108 billion yen (1.4 billion dollars) in the first quarter compared to a profit of 211.7 billion yen the same period last year.
The result was still better than analysts’ average estimates contacted by Reuters, that was indicating a loss of 190 billion yen.