Toyota Motor Corp. plans to set a target of around 6.3 million units for its global vehicle production in the 2009 business year, down about 10 percent from the previous year, sources said Thursday.
Compared with its record high output of 8.68 million units in the 2007 business year, the target for the upcoming year starting April 1 is lower by about 2.3 million units — more than the annual production of a midranking domestic automaker such as Mazda Motor Corp. or Mitsubishi Motors Corp., the sources said.
Toyota usually announces production and sales targets for an upcoming year at the end of the preceding year. But it refrained from doing so last December, saying it was too difficult amid rapidly deteriorating global economic conditions.
Toyota is now expected to present its output and sales targets for the 2009 business year on Friday, as they are necessary to help parts makers and other business partners make plans for the coming year.
The auto giant has cut back production in line with its plan to close factories for a total of 17 days during the January-April period. It aims to lower inventories to an adequate level by the end of April and to increase output gradually from May.