Toyota Forecasts 9.85 Million Vehicles Sales for 2008

Toyota is planning to mass produce lithium-ion batteries for the power requirements of the gasoline-electric hybrid models.

Published: 26-Dec-2007

Tokyo, Japan (AHN) - Two successive 5 percent sales growth rate are foreseen by Japanese car maker Toyota Motor Corporation. As 2007 ends, the firm said it expected to have sold 9.36 million units this year, a 5 percent rise from 2006 levels. For 2008, it projects sales going up again by another 5 percent to 9.85 million automobiles.

It seeks to take the crown from General Motor's 76-year reign as the world's largest vehicle producer by sales. Hitoshi Yamamoto, chief executive officer of Fortis Asset Management in Tokyo, said despite projected slower sales in the U.S. and Japan, the firms will make up for it by higher sales in other markets.

The company recently opened a car production facility in St. Petersburg, Russia and will open another manufacturing plant in China next year.

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