NAGOYA – Toyota Motor Corp. will probably become the first automaker in the world to build 10 million vehicles in a single year, its global data through November indicate.
Toyota’s global production increased 0.9 percent from the same period last year to 9,337,668 vehicles, including output by affiliates Daihatsu Motor Co. and Hino Motors Ltd., buoyed by brisk demand in China, Europe and the U.S.
In November alone, Toyota’s global production increased 13.3 percent to 889,242 vehicles, marking the third straight month of double-digit growth.
With demand expected to be high in Japan in December ahead of the consumption tax increase in April, Toyota’s full-year production is expected to hit the 10 million mark.
If production this month turns out only to be close to last year, the annual total would come to roughly 9,993,000 vehicles.
In sales worldwide, Toyota moved 9,093,000 vehicles in the first 11 months.
Toyota announced in August it was targeting 10.12 million vehicles made and 9.96 million sold for the year.
The company will not raise its production and sales targets significantly since it incurred massive losses following the global financial crisis triggered by the Lehman Brothers collapse. in September 2008.
Volkswagen AG, meanwhile, is gunning to take over No. 1 spot. In 2012, the German automaker saw its global sales grow 11.2 percent from the previous year to 9.07 million vehicles.
Production rises again
The combined domestic output of Japan’s top eight automakers rose 10.5 percent in November from the previous year to 800,567 units, according to data compiled by the automakers.
The third consecutive month of expansion can be credited to new hybrid and minivehicle models and growing demand ahead of the consumption tax hike in April, analysts said.
Their overseas production remained robust as well, rising 16.4 percent to 1,493,465 units.
Toyota Motor Corp., Nissan Motor Co., Honda Motor Co. and Daihatsu Motor Co. saw record overseas production.
In Japan, the eight companies’ total sales jumped 15.5 percent to 418,945 units.
All but Fuji Heavy Industries Ltd. enjoyed year-on-year growth in domestic sales. The maker of Subaru vehicles was hit by a product shortage in the domestic market as demand was excessively strong in North America.
As for the tax hike, a Daihatsu official said many customers wanted to know whether vehicles can be delivered by March if they sign contracts now.
The automakers’ exports rose 9.1 percent to 386,657 units thanks to recovery in the U.S.
Fuji Heavy enjoyed an all-time high in monthly exports, while Mazda Motor Corp. posted an export rise for the 12th consecutive month.