Japan auto giant Toyota says it will bounce back in 2012 after global sales were battered by the dual impact of Thai floods and the Japanese earthquake.
The company, which relinquished its title as the world's biggest in global vehicle sales for the first half of this year, is targeting record global sales of 8.48 million vehicles in 2012 and 8.95 million vehicles in 2013, it said in a statement.
Meanwhile, Al-Futtaim Motors, dealer of Toyota in the UAE, is aiming for 25 per cent growth in sales in 2012.
"We are looking at continued growth for next year. Our sales growth is going to be around 25 per cent," said Andrew Squires, General Manager of National Sales Operations at Al-Futtaim Motors.
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"This is brought by the continued product launches that are specifically developed to fulfil the demand of our customers in the UAE."
Highest sales volume
In the UAE, Toyota grabbed a 45 per cent market share after registering the highest sales volume in the history of Toyota UAE during October and Nov-ember, said Squires.
Toyota sank to No. 3 in the global rankings this year, trailing US rival General Motors Co. and Volkswagen AG of Germany.
In a statement yesterday, Toyota said its bold plans for 2012 growth was based on achieving 20 per cent growth from its global sales this year and would be a record high for the company, underlining its turnaround ambitions.
Toyota's global vehicle sales for this year total 7.9 million vehicles, including group companies, down 6 per cent from the previous year, it said.
Toyota production in Japan declined by 18.5 per cent to 2,475,551 vehicles this year to November. Sales in Japan fell by 30 per cent to 1,101,434 units in the same period. Exports of Toyota fell by 11.3 per cent while worldwide production declined about 11 per cent to 6,270,279 units.
"It won't be a surprise to me if Toyota reaches a new record in global sales," Mamoru Katou, auto analyst at Tokai Tokyo Research, told AP. Hybrids remain popular in Japan, the Camry sedan is doing well in the US and demand is robust in emerging markets, he said.
Toyota has been making up for sales declines in North America and Japan with momentum in relatively new but booming markets such as China and India.