Toyota Aims for 10M Units in 2010, Displacing GM as #1 Globally
2 May 2006
The Nihon Keizai Shimbun reports that Toyota Motor plans to sell about 10.3 million vehicles in 2010 on a parent-only basis, up some 3 million units from 2005, with sales expected to roughly double in Asia and jump 35% in North America. The company projects only 7% growth in Japan.
If realized, Toyota will not only displace GM from its top spot in terms of sales volume, but it will become the first automaker to sell 10 million vehicles a year.
Toyota’s regional targets reportedly include:
2.1 million units in Asia, with 1 million of those being in China, where it began manufacturing the Camry sedan at an annual pace of 100,000 units. Toyota will begin assembling the Vitz subcompact at the same site in 2008.
3.3 million units in North America, representing 35% growth. Toyota expects a lift in sales from its introduction of more hybrids, plus more fuel-efficient models. The redesigned 2007 Camry, which went on sale in the US in late April, recorded best-ever April sales for the brand of 40,203 units. The new Yaris subcompact posted robust sales of 6,393 units in its first month on sale, and the Corolla enjoyed all-time best-ever sales of 36,155 units in April.
1.55 million units in Europe, with production of the Camry set to start at a new Russian plant at the end of 2007.
Higher sales in Australia and the Middle East.
Toyota may surpass GM as early as 2007 in terms of consolidated (all subsidiaries) sales. On a parent-only basis, it may overtake GM even before 2010 if business grows as planned.
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