Toyota Aims to Produce Over 10 Million Units in 2008
By Brendan Moore
The Nikkei business daily newspaper reported yesterday in Japan that Toyota is planning to produce more than 10 million cars and trucks in 2008. That would be a 6% increase from planned output for this year. Output last year in 2006 and in 2007 to date has pushed Toyota past the former No. 1 automaker General Motors, making the Toyota the largest car company in the world. General Motors held the No. 1 spot for 75 consecutive years until dethroned by Toyota.
Toyota outsold GM by 128,000 units last year, and is expected to increase that margin after all is said and done by the end of 2007. Toyota is planning production of 9.74 million cars and trucks this year, counting volume from its subsidiaries of Daihatsu and Hino Trucks.
A large part of Toyota’s success is attributable to their strength in the massive U.S. market, and conversely, this is where GM has taken a pretty good beating as of late. GM’s overseas results are strong, but they have been in trouble in their core U.S. market for decades.
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