Toyota On A Roll: Predicts 7% Overseas Growth

Robert Farago
by Robert Farago

Despite the potential (if not actual) cratering of the U.S. new car market, Toyota reckons it will rack-up seven percent more sales abroad in '08 than '07. CNNMoney reports that Toyota '07 sales rose six percent to 9.37m vehicles. Sniffing big business in the expanding Russian and Chinese markets, Toyota reiterated its previous forecast for a big boost in total global sales in 2008, heading for 9.85m new car sales. Although Toyota's doemstic (i.e. Japanese) sales fell four percent in '07, down to 2.228m vehicles, their soothsayers say the market has stabilized, and will remain flat for '08. Whether all this will be enough to (once again?) wrest the "world's largest automaker" crown from GM remains to be seen; GM is also doing land office business in China, South America and Russia. But if we're talking profitability, well, Detroiters may not want to go there…

Robert Farago
Robert Farago

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