Cratering China sales due to the islands row made Toyota revise its production targets. Worldwide production by the Toyota Group including Daihatsu and Hino “now looks likely to reach around 9.8 million units to 9.9 million units for the calendar year instead of the currently projected 10.05 million units,” The Nikkei [sub] says.
The number is not official, but the Tokyo wire heard from parts suppliers that Toyota has downgraded its production targets.
In August, Toyota had announced plans for 10.05 million cars for the calendar year, which would have meant a 28% year-on-year jump.
After slashing production in China by half this month, Toyota plans to keep output there roughly 30% lower on average, sources tell the Nikkei. Toyota had planned for China sales of over 1 million units in 2012. Now, it looks like it will be less than 900,000.
“Despite all this, the Toyota group is still on course to break the previous production record of 9.5 million units, set in 2007,” says the Tokyo wire. With the reduced output, GM has an ever so slight chance of keeping its 2011 title as world’s largest automaker.