Toyota predicts a happy New Year
Hans Greimel
Automotive News
December 26, 2007 - 12:01 am ET
NAGOYA, Japan - Toyota says it's shaping up to be a happy New Year.
Toyota sees U.S. sales climbing higher in 2008 despite an overall market slump. Trends suggest that Toyota Motor Corp. will post higher sales than General Motors this year and next.
President Katsuaki Watanabe gave the upbeat outlook at a Christmas Day news briefing, saying global group sales would rise 5 percent to 9.85 million units next year.
Toyota's ambitious forecast easily tops GM's all-time annual sales record of
9.5 million vehicles, posted in 1978. And even this year, Toyota is closing in on the mark.It expects worldwide sales to have climbed 6 percent to 9.36 million vehicles in 2007, including group companies Daihatsu and Hino.
Meanwhile, global production is seen rising 5 percent to 9.95 million units next year, from an estimated 9.51 million units in 2007, Watanabe said.
The sales and production outlook could put Toyota on pace to oust GM as the world's biggest carmaker this year. And they likely ensure the lead will widen in 2008.
General Motors has not released full-year sales or production forecasts for
2008.But GM sees 2007 global production below Toyota's, at 9.259 million units. And it has already predicted output to fall 2.4 percent in the first quarter of 2008.
Next year, total U.S. market volume will be as bad as this year's or worse, thanks to the subprime loan problem and soaring gasoline prices, Watanabe said.
But Toyota, including Lexus and Scion, will still eke a 1 percent sales gain to 2.64 million units in North America for 2008, he predicts.
In fact, Toyota expects sales to increase in every region next year, except Japan.
In the dismal domestic market, sales fell short of Toyota's 1.72 million unit target in 2007 and are expected to languish unchanged at 1.6 million vehicles in 2008.
Toyota hit another production milestone in 2007. For the first time, the Japanese company made more cars overseas than at home. It is part of Toyota's "build near demand" strategy.
Foreign production climbed 11 percent to 4.31 million vehicles, while domestic output added a modest 1 percent to 4.23 million units.