Toyota plans for 2017 vehicle sales of 10.2 m, sees growth in main markets

Reuters: Toyota Motor Corp on Thursday said it anticipates a 1% rise in global vehicle sales next year, as growth in North America, China, Europe and Asia prompts a recovery from a 1% slide in sales this year.

The Japanese automaker estimates sales across its Toyota, Lexus, Daihatsu minicar and Hino Motors Ltd truck brands to increase to around 10.2 million vehicles in 2017. It expects to end 2016 with sales of 10.09 million vehicles, slightly lower than an initial forecast of 10.11 million.

Toyota expects sales to increase in its main markets next year due in part to new additions to its model line-up, including the C-HR compact sport utility vehicle launched in Japan this week.

This would offset sluggish demand in the Middle East, where low oil prices have battered the region’s economies, the automaker said.

It aims to boost production at the group by 1% to 10.366 million vehicles in 2017.

The improvement in global sales would follow a 1% year-on-year slide this year, largely due to sluggishness in some Southeast Asian markets.

Toyota was the world’s top-selling automaker in 2015, keeping the title for the fourth straight year.

In the year to October, Toyota sold 8.35 million vehicles, slightly lower than 8.48 million at Volkswagen AG during the same period, latest data showed.