Toyota forecasts 2010 sales to be up 6%

Toyota Motor Corp said that it expects its global auto sales to increase 6 percent in 2010 as the industry recovers from one of its worst ever downturns. The Japanese automaker hopes to maintain its lead over Volkswagen AG and General Motors Company as the world’s biggest automaker.

Toyota forecasts group-wide sales to rise to 8.27 million vehicles in 2010, short of its record 9.37 million units sold in 2007. Excluding its Daihatsu Motor Co and Hino Motors Ltd, Toyota expects to sell 7.4 million vehicles worldwide, up 6 percent.

Toyota expects a big jump in sales in Japan, where it is forecasting Toyota and Lexus branded cars to jump 9 percent to 1.5 million vehicles after the Japanese government’s version of the Cash for Clunkers incentive. It also expects to see a parent-only overseas sales to grow 5 percent to 5.9 million vehicles.

Analysts expect global vehicle sales to grow around 3-4 percent this year, meaning Toyota would slightly outperform the market.

– By: Stephen Calogera

Source: Reuters