Toyota lifts Japan 2012 forecast on eco-subsidy

Reuters News
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Posted: Jan 25, 2012 12:18 AM
Toyota lifts Japan 2012 forecast on eco-subsidy

TOKYO (Reuters) - Toyota Motor Corp on Wednesday lifted its 2012 domestic sales forecast to 1.63 million vehicles, up 6.5 percent from its previous prediction and 36 percent higher than 2011, after the government last month decided to re-introduce subsidies for fuel-efficient cars.

Toyota is expected to be among the biggest beneficiaries of such green car incentives and subsidies thanks to its broad line-up of hybrid vehicles, including the Aqua, its cheapest and most fuel-efficient hybrid to date, launched late last month.

The company's forecast for 18 percent sales growth overseas was unchanged, bringing the global forecast to 8.58 million vehicles, up 21 percent on the previous year, excluding Daihatsu and Hino.

That would be a record for the company, whose sales slipped 6 percent to 7.1 million vehicles in 2011, hampered by the massive earthquake in northeast Japan and Thai flooding.

(Reporting by Mayumi Negishi and Isabel Reynolds; Editing by Joseph Radford)