Toyota: Sales expansion planned for North America and Asia
2.2 million units expected to be sold in the US in 2013
Reported below are Toyota Motor Corporation's expansion plans for North America and Asia (especially Thailand and Indonesia). Upward amendments to full-year financial forecasts for FY2012, announced with the financial results for April to December 2012, will also be focused.
Toyota's consolidated sales volume for FY2012 is expected to increase by 1.5 million units from 7.35 million units in FY2011 to 8.85 million units. Of the 1.5 million additional units, 580,000 units will be in North America and 380,000 units in Asian markets other than China.
As for North American markets, Toyota sold 2.08 million vehicles in the United States in 2012 securing 14.4% of the market. Toyota plans to sell 2.2 million vehicles in 2013. Its production in North America in 2012 was 1.77 million vehicles, the highest ever for the area. The company plans to increase capacity by 130,000 vehicles by the start of 2014, and to receive supply of 50,000 units of small-size cars from Mazda's plant in Mexico starting in the summer of 2015. Toyota has been increasing exports from the United States and exported 124,000 units in 2012.
Asia is contributing as Toyota's prime source of earnings in the past few years. Asia topped in Toyota's operating income by the region at 286.3 billion yen in April to December 2012.
In 2012, Toyota produced 890,000 vehicles in Thailand (the past record was 630,000 vehicles in 2010) with normal 2-shift capacity of 670,000 vehicles. The company announced plans to increase capacity to 1 million vehicles in the near future (announced in November 2012). In mid-2013, Toyota will begin production of a Thai version of eco-cars at the second Gateway Plant currently under construction. In 2015, Toyota will release for sale the next IMV family.
As for Indonesia, Toyota and Daihatsu will have production capacities for 250,000 vehicles and 450,000 vehicles, respectively, in 2014. Plans were announced for six of the Toyota group companies to invest a total of 13 trillion Indonesian rupiah (143 billion yen at the exchange rate prevailing in mid-February 2013) in the next five years (announced in November 2012).
Toyota was to produce a small-size car (reportedly based on the Etios) starting in early 2013 and Daihatsu was to produce Daihatsu Ayla and Toyota Agya at the end of 2012 in line with the Indonesian government's Low Cost Green Car (LCGC) initiative. However, there has been no official announcement made by the Indonesian government as of mid-February 2013 and the planned production has not started yet.
Toyota's consolidated financial forecasts for operating income in FY2012 announced in February contained an upward amendment by 100 billion yen, from the forecast made in November 2012, to 1,150 billion yen. Toyota's new unconsolidated forecast contains an operating profit of 150 billion yen, highest ever since FY2008. The forecasts are made using prudent exchange rates of 84 yen to the dollar and 110 yen to the euro for the January-March 2013 period and further upward amendments are likely to be made (the exchange rate in mid-February fluctuated between 90 and 95 yen to the dollar).
Toyota's sales and earnings are in full-scale recovery (posted January 2013)
Toyota increases production capacities in North America and emerging markets (posted May 2012)