Toyota eyes 21% rise in sales

The natural calamities have not only hit hard the life but also the business in Japan and Thailand. The Japanese auto major Toyota now desires a disaster-free year after facing a major hitch in the production post the Japanese and Thai calamities. The result of the limping production is the declining sales figures in the global market which are losing out on competition to the General Motors.  According to the company’s President Akio Toyoda, the company has hit rock bottom and is trying to cope with the situation with a hope that nothing would go wrong in the coming year. Toyotais hopeful that after the unfortunate events of 2011 if the year 2012 goes normally then the company can make its sales to mount to 21% to 9.58 million vehicles. In 2009 and 2010 Toyota had to recall more than 10 million Toyota and Lexus vehicles from all the over the world to check for the defects associated with accidental acceleration.

Mr. Toyoda mentioned that the Yen is stronger than the time when Toyota was making huge profits and the company needs cut down the cost of the cars to reduce the impact of the strong Yen. He added that the Japanese currency Yen needs to undermine to 95-100 to be at an appropriate level.  For two years the Japanese currency had apprised the most in the world but this quarter Yen saw the highest devaluation of 7% against the dollar. Registering the highest ever quarterly gain since 1999, Toyota shares have shot up by 38% this year. At the close of trading in Tokyo, the company rose 0.4% to 3,535 Yen. As per Mr. Toyoda the company is focusing on the increase of sales of Hybrid vehicles in China. He added that Toyota Motors would maintain the production of 3 million vehicles per year in Japan. The second major automotive company of Japan, Nissan Motor Co. has recently revived its entry-level brand Datsun for the emerging markets. On this subject Mr. Toyoda indicated that Toyota Motors has no such intensions.