Toyota group targets global sales of 10.11 million vehicles in 2016

Kyodo, JIJI

Toyota Motor Corp. said Wednesday it and its subsidiaries, minicar maker Daihatsu Motor Co. and truck maker Hino Motors Ltd., are targeting global sales of 10.11 million vehicles in 2016. This is little advance on the 10.10 million forecast for this year.

The group expects sales in emerging markets to decline next year due to economic slowdowns, but it projects sales in the United States to remain strong.

Global sales in 2015 are expected to post the first year-to-year decline in four years, but will remain over 10 million for the third consecutive year.

The Toyota group is likely to remain the world’s biggest auto seller for the fourth consecutive year, as German rival Volkswagen AG has suffered a drop-off in sales due to an emissions test-rigging scandal.

In 2016, Toyota group sales within Japan are projected to increase 3 percent to 2.23 million vehicles, supported by the Prius hybrid and other new models, following an expected 7 percent decline this year.

Overseas sales are forecast to slip 1 percent to 7.88 million vehicles following little change in 2015.

Toyota expects sluggish sales in Thailand and Indonesia.

It projects record global sales topping 680,000 for its luxury Lexus brand cars in 2016.

The Toyota group targets global production of 10.20 million vehicles in 2016, up 1 percent. Its global output in 2015 is estimated to fall 2 percent to 10.13 million vehicles.