Japanese auto manufacturer Toyota Motor Corp has riased its global sales forecast by 3%, adding weight to the suggestion that the auto industry is pulling clear of one of the toughest challenges it’s ever faced.
According to The Tokyo Shimbun, Toyota is now expecting to sale 6.7 million cars and has also increased its production for 2009 to 6.45 million vehicles. Last year Toyota posted its first full-year losses since it began trading in 1937.
The company is enjoying increasing success in its domestic market thanks to the Japanese government offering 250,000 yean to buyers replacing older cars with low-emissions cars. Mirroring the move by other governments across the globe – Scrappage Scheme and Cash For Clunkers – the move was part of the largest economic stimulus package Japan has known. Accordingly, the company has petitioned the new Japanese government to extend the deadline for the subsidies.
In the UK, the company is also seeing a bumper time with more and more people opting for a new car over a used Toyota. Sussex dealers have seen a huge increase in the numbers of the IQ and Auris hiting the roads as a result of the srappage scheme and the vehicles’ impressive economy stats.
With news of the extension to the Scrappage Scheme in the UK this only looks set to continue and, with any luck, will see the automotive industry move clear of the recession.
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