Toyota Plans To Make More Than 10 Milllion Cars This Year

Toyota today published its revised production and sales plan for the calendar year 2012. The plan calls for slightly more than 10 million units produced globally by all Toyota Motor Corporation companies. If this plan is executed, Toyota will be the world’s first automaker to break the 10 million unit sound barrier. Based on its half year results, Toyota was already above plan before the plan was published.

Compared to the previous production plan published by TTAC in February, Toyota plans to make 290,000 more Toyota and Lexus units, 150,000 additional Daihatsu cars and 30,000 additional Hino trucks.

Toyota’s sales plan has been up-revised accordingly. It calls for 9.76 million units sold in CY 2012 across all TMC companies. Due to pipeline filling, a slight lag between sales and production is common, especially in times of high growth. In the industry, the size of an automaker is measured by production.

This ends months of speculation and downright erroneous reporting, from the Wall Street Journal to Bloomberg.

Since May, TTAC has predicted that, based on previous plans and current quarterly production data, Toyota could end the year with more than 10 million units made. Even if it caused incredulous comments (especially in the if-we-don’t-like-it-it-can’t-be-true section,) we maintained this position throughout the year. Two days ago, we reiterated this prediction.

Seven months into the year, the race for the title World’s largest automaker appears to be decided. Based on half year results and forecasts, Toyota will win, followed by GM and Volkswagen. Like all carmakers (with the exception of Volkswagen,) Toyota officially maintains that numbers are not important. Said Senior Managing Officer Takahiro Ijichi today in Tokyo:

“We have not been aspiring to produce 10 million units a year. We have been aspiring to do a good job of producing good vehicles. We appreciate the people who choose our vehicles, and we will continue to work to make our vehicles better and for our vehicles to meet the needs of consumers.”