Toyota Motor Corp said on Tuesday it expects its group-wide auto sales to rise 7 percent next year to a record 8.03 million vehicles globally as it boosts its production capabilities in almost every corner of the world. That would follow a 10 percent rise in sales by the group, which includes minivehicle maker Daihatsu Motor Co and truck maker Hino Motors Ltd, in 2004 to an estimated 7.47 million units - the first time above 7 million - the world's second-largest auto manufacturer said.
"The global auto market expanded rapidly this year led by China, Eastern Europe and other Asian countries, and our customer base has grown bigger," President Fujio Cho told a year-end news conference.
For the Toyota brand only, Japan's top auto maker expects to sell 7.18 million vehicles world-wide in 2005, up 8 percent after an estimated 10 percent rise this year.
"In Japan, Toyota alone will aim to keep a market share of around 44 percent, while we expect bigger sales in every other region to bring overseas sales to 5.38 million vehicles in 2005 - marking the 14th straight year of increase," Cho said.
Fuelled by robust demand everywhere, the maker of the Prius hybrid sedan said last month it planned to sell 8.5 million vehicles in 2006, bringing it neck-and-neck with the world's top seller, General Motors Corp.
Unlike the Detroit-based giant, which has relied heavily on discounts to sell its cars, Toyota has matched its growth with record earnings as it pushes ahead with big cost cuts while maintaining an industry-beating reputation for quality that has enabled it to keep sales incentives low in the key US market.