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)
Sales expansion planned for North America and Asia
Toyota's consolidated sales volume is expected to increase by 1.5 million vehicles from 7.35 million vehicles in FY2011 to 8.85 million vehicles in FY2012. Toyota plans to sell a total of 960,000 vehicles more in two regions, including 580,000 units more in North America and 380,000 units more in Asian markets other than China.
These two regions are also contributing to Toyota's earnings. Asia, in particular, outperformed North America to become the prime source of earnings in FY2009, FY2011, and April-December FY2012.
Consolidated sales volume increase forecast for FY2012 by the region
|Japan||North America||Europe||Asia||Latin America||Oceania||Africa||Middle East||Con- solidated|
|Actual results for FY2011 FY2012 forecast||2,071 2,250||1,872 2,450||798 820||1,327 1,710||289 360||223 270||214 260||550 730||7,352 8,850|
Source: Toyota's financial results for April-December FY2012 (Note) Sales of local production in China are not included. This also applies to the operating income by the region below. The consolidated sales volume for FY2011 includes 8,000 vehicles sold in other regions.
Consolidated operating income by the region
|FY2007||FY2008||FY2009||FY2010||FY2011||Apr.-Dec. FY2011||Apr.-Dec. FY2012|
|Japan North America Europe Asia Other Elimination||1,440.3 305.3 141.5 256.4 143.9 (17.1)||(237.5) (390.2) (143.3) 176.1 87.6 46.3||(225.2) 85.4 (33.0) 203.6 115.5 1.2||(362.4) 339.5 13.1 313.0 160.1 4.9||(207.0) 186.4 17.7 256.7 108.8 (7.1)||(306.4) 151.8 8.5 171.0 96.0 (3.8)||266.4 165.4 21.3 286.3 91.0 (12.1)|
Source: Toyota's financial results
2.08 million vehicles sold in the US in 2012, planning to increase sales to 2.2 million vehicles in 2013
Toyota's sales volume in the United States registered 2.62 million vehicles in 2007 with the market share of 16.2%. However, the sales fell to 1.64 million vehicles in 2011 with the market share of 12.9% due to global recessions, large-scale recalls, Great East Japan Earthquake disaster and floods in Thailand.
Production gathered momentum in 2012 and Toyota sold 2.08 million vehicles with a market share of 14.4%. The Camry, the best-selling car in the United States for eleven years in a row, topped the 400,000 vehicles mark in 2012 for the first time in four years.
The light vehicle market in the United States is expected to expand from 14.5 million vehicles in 2012 to 15 million vehicles in 2013.
Toyota is renewing many of its mass-produced cars in less than a year's span after December 2012. Toyota launched the new Avalon in December 2012 and the new RAV4 in January 2013 (targeting 200,000 vehicles a year), and will introduce the new Highlander and the new Tundra in the second quarter and the new Corolla (based on the Furia concept exhibited at the Detroit Auto Show in January 2013) in the third quarter. All in all, Toyota plans to sell 2.2 million vehicles in total in the United States in 2013.
Sales volume in the United States by the brand and leading models
|ES IS Other||75,987 54,267 52,783||82,867 54,933 62,534||64,135 49,432 38,000||48,485 38,077 26,183||48,652 34,129 30,325||40,873 29,669 30,639||56,158 27,708 48,875|
|RX Other||108,348 31,049||103,340 25,503||84,181 24,339||93,379 9,941||95,790 20,433||82,595 14,776||95,381 16,044|
|Avalon Camry Corolla/Matrix Echo Prius Venza Yaris||88,938 448,445 387,388 35 106,971 70,308||72,945 473,108 371,390 7 181,221 0 84,799||42,790 436,617 351,007 158,884 1,474 102,328||26,935 356,824 296,874 139,682 54,410 63,743||28,390 327,804 266,082 140,928 47,321 40,076||28,925 308,510 240,259 136,463 38,904 32,704||29,556 404,886 290,947 236,659 43,095 30,590|
|Toyota Division car||1,102,085||1,183,470||1,093,100||938,468||850,601||785,765||1,035,733|
|4Runner FJ Cruiser Highlander Land Cruiser RAV4 Sequoia Sienna Tacoma Tundra||103,086 56,225 129,794 3,376 152,047 34,315 163,269 178,351 124,508||87,718 55,170 127,878 3,251 172,752 23,273 138,162 173,238 196,555||47,878 28,668 104,661 3,801 137,020 30,693 115,944 144,655 137,249||19,675 11,941 83,118 2,261 149,088 16,387 84,064 111,824 79,385||46,531 14,959 92,121 1,807 170,877 13,848 98,337 106,198 93,309||44,316 13,541 101,252 1,662 132,237 13,022 111,429 110,705 82,908||48,755 13,656 121,055 2,895 171,877 13,151 114,725 141,365 101,621|
|Toyota Division truck||944,971||977,997||750,569||557,743||637,987||611,072||729,100|
|Total Toyota Division||2,047,056||2,161,467||1,843,699||1,496,211||1,488,588||1,396,837||1,764,833|
|Toyota Motor Sales||2,542,524||2,620,825||2,217,660||1,771,147||1,763,595||1,644,660||2,082,504|
|Total US Light Vehicle||16,560,989||16,154,064||13,245,718||10,431,509||11,589,844||12,779,007||14,492,398|
Source: Automotive News 2013.1.7
Record-high production of 1.77 million vehicles in North America in 2012, planning additional supply capacity for 180,000 vehicles
In 2012, Toyota produced 1.77 million vehicles in North America (US, Canada, Mexico), a record high number topping the last peak quantity of 1.67 million vehicles in 2007.
To stand ready for the new momentum of sales, Toyota is increasing its production capacity by 130,000 vehicles in total by the start of 2014, including 50,000 units (Highlanders) at Indiana Plant, 50,000 units (RAV4) at Woodstock Plant, Canada, and 30,000 units (Lexus RX) at Cambridge Plant, Canada. Toyota plans to receive supply of 50,000 small-size cars from Mazda's plant in Mexico starting in the summer of 2015.
Of the Toyota vehicles sold in the United States, the ratio of those produced in North America rose from 55.1% in 2007 to 70.4% in 2012 while the number of Japanese car imports decreased by half from 1.18 million to only 620,000 units in the same period. In light of Toyota's increased production capacity in North America as reported above, import of the Highlander from Japan will end in 2013 and most of the new RAV4, launched in January 2013, will be produced at Woodstock Plant, Canada. Toyota was exporting 20,000 to 30,000 units of Lexus RX annually in the past few years but this will end in 2013.
Quantities and the ratio of local production and imports in Toyota's sales in the US
|Local productions Ratio||1,445,297 55.1%||1,218,177 54.9%||1,106,303 62.5%||1,185,497 67.2%||1,140,818 69.4%||1,465,221 70.4%|
Source: Automotive News 2013.1.7 (Note) Local productions are those produced in the US, Canada and Mexico.
124,000 US-made vehicles exported in 2012
Toyota exports its US-made vehicles to 21 countries including Canada and Mexico. The export quantity increased from 85,000 units in 2011 to 124,000 units in 2012. Toyota is exporting the US-made Siena minivan, Camry and Camry HV to South Korea under FTA arrangements with the United States. Export of the Venza, a crossover SUV, to South Korea began in 2012. Toyota plans to export the Venza to China as well starting in 2013.
Starting in the second half of 2013, part of the additional production of the Highlander at Indiana Plant will be exported to Australia and Russia (production of the export-only vehicles at Kyushu Plant in Japan will be transferred to Indiana Plant).
Thailand: Increasing production capacities to 1 million vehicles in the near future
The domestic market in Thailand has recovered from the floods of 2011 and total automobile sales in Thailand expanded 1.8-folds from the results in 2011 to 1.42 million vehicles in 2012. Production rose by approximately 1 million vehicles to 2.45 million vehicles.
Toyota produced approximately 887,000 vehicles in Thailand in 2012 (the past peak year was 2010 with 630,000 vehicles) and sold 530,000 vehicles (326,000 vehicles sold in 2010). The production volume by far exceeded the company's normal two-shift capacity of 670,000 vehicles and the plants had to work extra hours (holidays and overtime). When Thai Auto Works starts operation at the end of 2012 and production starts at the second Gateway Plant in mid-2013, Toyota's total capacity will increase to 760,000 vehicles.
At the ceremony held in November 2012 to celebrate the 50th anniversary of Toyota Motor Thailand Co., Ltd., Toyota expressed plans to increase its production capacity in Thailand to 1 million vehicles in the near future.
Launching a new compact car in 2013, the next IMV model in 2015
As of February 2013, Thai Toyota is producing the Hilux pickup truck and the Fortuner SUV in the IMV series, and the Camry, the Vios and other passenger cars.
The second Gateway Plant will produce a new compact car (a Thai version of eco-cars) when it is completed in mid-2013.
The IMV series first launched in 2004 is mainly produced in Thailand, Indonesia, South Africa and Argentina, and the cumulative global sales of the IMV series reached 5 million units in April 2012. An all-new series is expected for launch in 2015. Toward that goal, Toyota will invest 40 billion yen in its diesel engine plant in Thailand and nearly double the capacity from 320,000 to 610,000 engines.
Production and sales in Thailand
|Toyota||Production Sales Market share||499.2 282.1 44.7%||573.4 262.2 42.6%||434.8 230.6 42.0%||629.9 326.0 40.8%||507.8 290.1 36.5%||887.4 530.3 37.5%|
|Total Thailand||Production Sales||1,287 631||1,394 615||999 549||1,645 800||1,458 794||2,454 1,415|
Source: Figures for 2007-2011 taken from Toyota's website, figures for 2012 taken from MarkLines Data Center. (Note) People in Thailand buying a small-size passenger car or a pickup truck for the first time between October 2011 and December 2012 were entitled to a refund of the commodity tax from the purchase. This privilege will end in 2013 and the total demand is expected to decline to 1.2 million vehicles (down 15% from 2012).
Production bases in Thailand, product lineup and production capacity (as of mid-2013)
|Start of production||Production capacity||Product lineup|
|Samrong Plant Gateway Plant Gateway Plant No. 2 Ban Pho Plant Thai Auto Works||1964 1996 Mid-2013 2007 End of 2012||230,000 units 220,000 units 70,000 units 220,000 units 20,000 units||Hilux Camry, Prius, Vios, Corolla, etc. New compact car (a Thai version of eco-cars) Hilux, Fortuner Hiace commuter|
|Total production capacity||760,000 units|
|(Notes) 1-1.||Thailand is the production base of the Hilux pickup truck and the Fortuner SUV in the IMV (Innovative International Multi-purpose Vehicle) series that are exported to approximately 100 countries (40% of total production by Toyota Motor Thailand is exported). The IMV series also included a minivan type (Indonesia is the primary production base).|
|1-2.||In April 2012, Toyota announced the total sales of the IMV series in the world reached the 5 million units mark. Toyota produced 753,000 units of the IMV series and sold 773,000 units in 2011. Toyota intends to increase the sales ratio of Toyota and Lexus cars in emerging markets to 50% by 2015 and the IMV series is said to be one of the main contributors to this goal.|
|2.||The compact cars planned for production starting in mid-2013 at the second Gateway Plant are the eco-cars designated by the Thai government. They are also a part of Toyota's strategic cars for emerging countries (Toyota will launch 8 small-size car models by 2015 with the price of around 1 million yen and sell 1 million units of them in the world). The compact cars to be produced in Thailand are said to be based on the Vitz. In addition to selling them locally in Thailand, Toyota plans to supply them globally. The new product will be unveiled at the Bangkok International Motor Show being held in March 2013.|
Increasing engine production capacity in Thailand
|Gasoline engines||Early 2014||Increased by 100,000 units||Increasing production of ZR engines for Corolla line (STM's capacity increased from 740,000 to 840,000 units)|
|Diesel engines||2015||Increased from 320,000 to 610,000 units||Fitted in the next IMV series, etc.|
|(Notes) 1.||Gasoline engines and diesel engines are produced by Toyota's Thai corporation, Siam Toyota Manufacturing (STM).|
|2.||Gasoline engines are also exported to Vietnam and Taiwan.|
|3.||Diesel engines may be exported to countries producing the IMVs other than Thailand as well. The IMV series are currently fitted with the KD type 4-cylinder 2,500-3,000cc diesel engines.|
Indonesia: Toyota Group to invest 13 trillion rupiah in the next five years
Indonesia is the fourth most highly populated country with 240 million people but the diffusion rate of motor vehicles is low, which means Indonesia has a great potential of growth.
In 2012, Toyota enjoyed a market share of 36%, or more than 50% including Daihatsu vehicles, in Indonesia. The main contributors there have been the small-size minivan, Toyota Avanza and Daihatsu Xenia, and IMV series minivan Innova.
Daihatsu's Sunter Plant is producing Toyota's Avanza on OEM arrangement to support its sales in Indonesia.
In November 2012, Toyota and five other member companies of the Toyota Group (Toyota Auto Body, Toyota Tsusho, Aisin Seiki, Denso and Daihatsu) announced plans to invest 13 trillion rupiah in total over the next five years (100 rupiah converts to approximately 1.1 yen as of mid-February 2013).
Toyota and Daihatsu to increase capacities to 250,000 vehicles and 450,000 vehicles, respectively, in 2014
Toyota's initial plan was to build the second plant in Karawang and to start production of the new small-size cars at start of 2013 with the initial quantity of 70,000 units a year. Toyota also has a plan to increase the annual capacity at the second plant to 120,000 units in early 2014, and also increase the capacity of the existing first plant from 110,000 to 130,000 vehicles, totaling 250,000 vehicles.
Daihatsu has Sunter Plant in Indonesia having an annual capacity of 330,000 vehicles (normal 2-shift operation). In October 2012, Daihatsu completed construction of its Karawang Plant having an annual capacity of 120,000 units for producing small-size cars under the Indonesian government's eco-car initiative, namely the Daihatsu Ayla and Toyota Agya. The new production capacity at the two plants combined is 450,000 vehicles in normal 2-shift operation but it can be increased to more than 500,000 vehicles by overtime and holiday work.
However, the Indonesian government has not yet announced the eco-car initiative as of mid-February 2013 and Daihatsu is unable to start production of the eco-cars at Karawang Plant. Under the circumstances, Daihatsu has started producing Daihatsu Xenia and Toyota Avanza that are enjoying brisk sales.
Likewise, the second plant at Toyota's Karawang Plant was to produce its eco-cars (reportedly based on the Etios) other than the Agya to be supplied by Daihatsu starting early 2013. But the actual start of production has not been announced.
Toyota Group's production and sales in Indonesia
|Toyota||Production Sales market share||152.7 152.5 35.1%||198.4 209.4 35.1%||178.6 190.7 39.0%||264.6 281.1 37.7%||306.3 314.9 35.3%||354.0 401.2 35.9%|
|Toyota+Daihatsu||Production Sales market share||222.8 202.6 46.7%||302.2 290.2 48.7%||275.1 264.4 54.1%||383.1 399.6 53.6%||n.a. 450.7 50.6%||527.3 564.8 50.6%|
|Total Indonesia||Production Sales||412 434||601 596||465 489||703 745||838 891||1,066 1,116|
|Source: Figures for 2007-2011 taken from Toyota's website, figures for 2012 covering Toyota group including Daihatsu taken from MarkLines Data Center.|
|(Notes) 1.||Toyota's production includes Toyota vehicles produced by Astra Daihatsu.|
|2.||Sales results in 2012 include 186,000 units of Toyota Avanza (OEM-supplied by Daihatsu), 75,000 units of Daihatsu Xenia and 73,000 units of Kijang Innova.|
Toyota's production bases in Indonesia
|Start of production||Capacity||Product lineup|
|Karawang Plant No. 1||1998||110,000 to 130,000 units (Sept. 2013)||Strengthening production of IMV series (Innova, Fortuner)|
|Karawang Plant No. 2||Early 2013||70,000 units||Small-size cars (reportedly based on Etios)|
|Early 2014||Increased to 120,000 units|
|Toyota Auto Body||December 2012||6,000 units||Local-spec model based on Noah minivan|
|(Notes) 1.||Toyota Auto Body is to begin production at Sugity Creatives, a joint-venture company formed with TMMIN (Toyota Motor Manufacturing Indonesia) and Toyota Tsusho.|
|2.||Toyota has purchased a 150-hectare land near Karawang Plant to build a new engine plant.|
Daihatsu's production bases in Indonesia
|Start of production||Capacity||Product lineup|
|Sunter Plant||1992||330,000 units||Daihatsu-brand models, Daihatsu Xenia/Toyota Avanza, Daihatsu Terios/Toyota Rush|
|Karawang Plant||October 2012||120,000 units||Daihatsu Xenia/Toyota Avanza + Daihatsu AYLA/ Toyota AGYA|
|(Notes) 1.||In 2012, Daihatsu Karawang Plant produced 7,311 units of Daihatsu Ayla and 2,315 units of Toyota Agya in addition to Avanza/Xenia.|
|2.||It has been reported that the Indonesian government is somewhat hesitant about rushing to the LCGC initiative because far more cars were sold in Indonesia in 2011 and 2012 than originally anticipated which has lead to road congestions and increased financial burden from oil import resulting from expansion of consumption.|
|3.||Daihatsu plans to build a proving ground and a design center within the premises of Karawang Plant.|
Toyota Agya and Daihatsu Ayla developed by Daihatsu
|Development||Daihatsu was responsible for planning and development based on the know-how of building highly fuel-efficient and low-cost compact cars through experience with the Mira e:S. Astra Daihatsu Motors joined the team to develop cars that would meet likings of the local people.|
|Developed with the Indonesian government's LCGC (Low Cost Green Car) initiative in mind. The price is said to range from 70 to 80 million rupiah.|
|Targeted markets||The group's aim is the creation of a new market for 1,000cc class family cars for entry users in Indonesia, a country of big families and currently dominated by multiple-purpose vehicles (MPV) such as the Avanza and the Xenia.|
|Production||Production will take place at the Karawang Plant newly built by Astra Daihatsu Motors, one of Daihatsu's subsidiaries. The cars will be sold under the name of Daihatsu Ayla and also supplied under OEM arrangement to Toyota to be marketed as Toyota Agya. A local content ratio of 84% has been achieved.|
Upward amendments to the consolidated operating income forecasts for FY2012 by 100 billion yen to 1,150 billion yen
On February 5, 2013, Toyota announced its financial results for the period from April to December FY2012, and the full-year financial forecasts for FY2012. The forecasts reflected amendments to the full-year foreign exchange rate from 79 yen to the dollar used in the forecasts published in November to 81 yen to the dollar. At the same time, the consolidated vehicle sales volume was increased by 100,000 units and the full-year consolidated operating income was amended to 1,150 billion yen (up by 100 billion yen from the November announcement).
Toyota also announced the unconsolidated operating income forecast of 150 billion yen in profit (upward amendment by 170 billion yen from the November announcement). The forecasts were amended upward mainly because of the cost improvement efforts in the past several years and the yen's depreciation in the past 1 to 2 months that contributed to a significant increase in profitability from exports. It has been reported that Toyota has got a fix on its radical reform after the Lehman Brothers crisis.
Although profitability in automobile exports is improving, Toyota is making continued efforts toward localization of overseas operations for sake of more stable profitability. Toyota will keep the current domestic production level of 3 million vehicles but says that the production models will change drastically.
Toyota is rather prudent in assuming the foreign exchange rate of 84 yen to the dollar and 110 yen to euro for the period from January to March 2013. Toyota may announce further amendments to its operating income if the yen's depreciation continues at the level of 90 yen or more to the dollar which prevailed in mid-February.
Upward amendments to the consolidated financial forecasts for FY2012
|Net revenues (billion yen)||Operating income (billion yen)||Net income (billion yen)||Consolidated sales (1,000 units) Excl. China||Full-year Foreign Exchange Rate Forecast for FY2012|
|Actual results for FY2011||18,583.6||355.6||283.5||7,352||79 yen||109 yen|
|Previous forecast New forecast||21,300.0 21,800.0||1,050.0 1,150.0||780.0 860.0||8,750 8,850||79 yen 81 yen||100 yen 104 yen|
|Change||500.0||100.0||80.0||100||+2 yen||+4 yen|
|Source: Toyota's financial results for April-September and April-December FY2012|
|(Notes) 1.||It is said an increase or decrease in strength of 1 yen in foreign exchange rate would affect Toyota's annual operating income by 35 billion yen in dollar quotes or 5 billion yen in euro quotes.|
|2-1.||In December 2012, Toyota announced it had agreed to pay US$1.1 billion in a settlement offer in a class action resulting from a large-scale recall incident in 2009 to 2010 in the United States. Toyota's ECM (Engine Control Module) has been proven not faulty but the company nonetheless reportedly agreed to the payment in fear that a prolonged action would affect the brisk sales.|
|2-2.||As part of the above settlement, Toyota allocated payment of US$1.1 billion (approx. 100 billion yen at the exchange rate prevailing in mid-February 2013) in the quarter from October to December 2012. Toyota forecasts that its full-year performance would more than absorb that payment and generate a full-year consolidated operating profit of 1,150 billion yen.|
Amendments to unconsolidated financial forecasts for FY2012
|Net revenues (billion yen)||Operating income (billion yen)||Net income (billion yen)||Production in Japan (1,000 units)||Toyota & Lexus Exports (1,000 units)|
|Actual for FY2011||8,241.1||(439.8)||35.8||3,119||1,670|
|Previous forecast New forecast||9,200.0 9,600.0||(20.0) 150.0||470.0 630.0||3,300 3,350||1,850 1,900|
|Source: Toyota's financial results for April-September and April-December FY2012|
|(Notes) 1.||The first unconsolidated operating profit since FY2007.|
|2.||The upward amendment of 170 billion yen to the operating profit announced in November 2012 includes 140 billion yen due to the yen's depreciation and 30 billion yen attributable to cost reduction and other internal efforts. Hence, Toyota is confident that the company has gained enough strength to generate unconsolidated profits (10 billion yen) at an exchange rate of 79 yen to the dollar.|
Source: Toyota and Daihatsu's Press Releases, newspaper reports
Production Forecast by LMC Automotive: Toyota production forecast by country and by make
|(LMC Automotive、February 2013)|
LMC Automotive forecasted that 2013 Toyota Group’s light vehicle production will increase by 0.2% over last year to about 9,528,000 units (February, 2013). Toyota’s production in Japan will decrease by nearly 7%, whereas its production in US, Thailand, Brazil, UK, Russia, and Indonesia will increase. LMC Automotive sees some upside risk to the Japan forecast in light of the possible improvements in the Japanese domestic economy and the positive impact of the yen devaluation on export competitiveness.
Toyota light vehicle production by country and by make
|Source：LMC Automotive "Global Automotive Production Forecast (February, 2013)"|
|(Note) 1.||Data indicate figures of only small-size vehicles, including passenger cars and light commercial vehicles with a gross vehicle weight of under 6 tons.|
|2.||All rights reserved. Reproduction of any data will require permission of LMC Automotive.|
|3.||For more detailed information or inquiries of forecast data, please contact LMC Automotive.|
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