Toyota forecasts 20% sales growth in 2012

Buoyed by the Japanese government’s new tax rebate proposal, as well as growth in emerging markets, Toyota expects to bounce back from a year of natural disasters, supply disruptions, currency fluctuations and worldwide economic uncertainty. The company said its forecast for 2012 is a 20% sales growth in the year. Although the strong yen is expected to put a dent on the automaker’s sales growth, the recently announced incentive proposals for green cars from the Japanese government is expected to spur a stronger recovery. Toyota said global sales for 2011 will total 7.90 million vehicles, down 6% year-on-year. But 2012 is expected to be better, with global sales of 8.48 million vehicles. Domestic sales are expected to grow 28% year-on-year with 1.53 million vehicles. Overseas sales are expected to reach 6.95 million vehicles, a 19% jump year-on-year. The company sees global production rebounding by 24% year-on-year to 8.65 million vehicles in 2012. (December 22, 2011)