TOKYO (AP) -- Toyota Motor Corp. said Tuesday it expects global sales to grow 3 percent to 7.7 million vehicles next year with shrinking purchases in Japan offset by growing overseas demand.
The world's No. 1 automaker is targeting sales of 1.3 million vehicles in Japan, down 17 percent. It hopes to sell 6.4 million vehicles outside Japan, up 8 percent.
The expiration of a government subsidy for fuel-efficient cars is taking a big toll on auto sales in Toyota's home market. An industry body warned last week that Japan's auto sales would fall 9.9 percent to 4.47 million vehicles in 2011 -- the lowest level in 34 years.
The story is brighter in overseas markets, particularly emerging economies like China and elsewhere in Asia.
As a result, it will cut domestic output by 5 percent to 3.1 million vehicles while expanding overseas production by 6 percent to 4.6 million vehicles.
Toyota estimates that its global sales this year grew 7 percent to 7.48 million vehicles.
The figures do not include estimates for units Daihatsu Motor Co. and Hino Motors Ltd.
The world's No. 1 automaker is targeting sales of 1.3 million vehicles in Japan, down 17 percent. It hopes to sell 6.4 million vehicles outside Japan, up 8 percent.
The expiration of a government subsidy for fuel-efficient cars is taking a big toll on auto sales in Toyota's home market. An industry body warned last week that Japan's auto sales would fall 9.9 percent to 4.47 million vehicles in 2011 -- the lowest level in 34 years.
The story is brighter in overseas markets, particularly emerging economies like China and elsewhere in Asia.
As a result, it will cut domestic output by 5 percent to 3.1 million vehicles while expanding overseas production by 6 percent to 4.6 million vehicles.
Toyota estimates that its global sales this year grew 7 percent to 7.48 million vehicles.
The figures do not include estimates for units Daihatsu Motor Co. and Hino Motors Ltd.
