Perhaps another sign that the global auto market is poised for a rebound in the next few months, Toyota – the world’s largest automaker – has increased its yearly sales forecast. Additionally, Toyota has also increased its global production schedule.
According to Japan’s Shimbun daily newspaper, Toyota has boosted its global sales forecast for the year ending March 2010 by 3 percent, totaling 6.7 million units. Additionally, Toyota also plans to boost its global output by 8 percent over the next few months, resulting in a total of 6.45 million vehicles.
Although Toyota was one of the hardest hit by the global economic slowdown, the Japanese automaker has seen solid growth over the last few months, largely due to government incentives. Here in the U.S., Toyota saw a 9 percent sales increase during the month of August.
Toyota has seen particularly strong demand in its home country of Japan, thanks in large part to a $2,800 government incentive for the purchase of more fuel efficient vehicles. The program is set to expire next year, but Toyota is lobby for the incentives to extend through 2012.
