Toyota will count on an array of new products, including an update to the Camry, to help drive big sales growth in 2012.
Even as it prepared to report a 99% drop in its global earnings, Toyota was telling its worldwide supplier network to buckle up and get ready for a fast ride as it lays out plans for record production — backed by one of the most aggressive product roll-outs in its history.
Reports out of Tokyo indicate that the Japanese giant intends to come back from the setbacks of the last two years by launching a big growth effort that could boost production to a record 8.9 million in 2012. That would be nearly a million more than Toyota said, on Tuesday, it will build this year.
It has been a tough couple years for the maker – which is expected to lose its crown as the world’s largest automotive manufacturer this year. In 2010, it was hammered by a series of safety-related problems, at one point idling a number of plants to make repairs. This year, Toyota has been struggling to overcome the effects of the March 11 Japanese earthquake and tsunami which – during the first quarter of its fiscal year alone – cost it nearly 600,000 units in lost production.
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But Toyota officials tell TheDetroitBureau.com that they are moving ahead on the global expansion program announced by CEO Akio Toyoda – ironically just days before the Japanese disaster. And now, the maker confirms, it is telling its suppliers to get ready to support the push.
According to a report in Japan’s Kyodo News, Toyota plans to boost production at its Japanese assembly network to 3.5 million in 2012, adding another 5.4 million vehicles at “transplant” assembly lines in the U.S., Europe, China and other parts of the world.