Toyota targeting production of more than 10 million vehicles in CY 2012

Toyota Motor Corporation (TMC) has revised its calendar year 2012 sales and production plans, targeting worldwide production of 10,050,000 vehicles and worldwide sales of 9,760,000 vehicles for the year.

The production target reflects a 28% increase in combined Toyota, Daihatsu and Hino from earlier plans and a 23% increase in combined sales. The company is planning a 28% increase in production of Toyota vehicles alone to 8,870,000 units.

TMC’s prior production record was approximately 9.5 million units in 2007; the subsequent financial crisis brought production down to about 7.23 million units in 2009.

Toyota forecasts that its sales in Japan will increase 33% to 2,370,000 units, while overseas sales will rise 20% to 7,390,000 units.

The company also announced financial results for the first fiscal quarter ended 30 June 2012. On a consolidated basis, net revenues for the first quarter totaled ¥5,501.5 billion (US$70.1 billion), an increase of 59.9% compared to the same period last fiscal year. Net income increased from ¥1.1 billion yen to ¥290.3 billion (US$3.7 billion).

Consolidated vehicle sales for the first quarter totaled 2,269 thousand units, an increase of 1,048 thousand units compared to the same period last fiscal year.

• In Japan, vehicle sales totaled 577,000 units, an increase of 285,000 units compared to the same period last fiscal year. (+98%)
• In North America, vehicle sales totaled 663,000 units, an increase of 387,000 units compared to the same period last fiscal year. (+140%)
• In Europe, vehicle sales totaled 209,000 units, an increase of 35,000 units. (+20%)
• In Asia, vehicle sales totaled 418,000 units, an increase of 159,000 units. (+50%)
• In Central and South America, Oceania and Africa, vehicle sales totaled 402,000 units, an increase of 182,000 units. (+83%)

In all regions, vehicle sales increased significantly due to strong recovery of demand which had suffered last year from the lack of supply caused by the Great East Japan Earthquake. Despite the yen’s appreciation, operating income increased substantially thanks to increased vehicle sales and cost reduction efforts including our company-wide VA activities.

—TMC Senior Managing Officer Takahiko Ijichi