Toyota aims to sell 10 million vehicles annually by 2015

PanARMENIAN.Net - Toyota Motor Corp. is aiming for an auto industry first by reaching annual sales of 10 million vehicles by 2015 even as it acknowledges that overly rapid growth was at the root of its recall fiasco.

Toyota President Akio Toyoda gave the 10 million figure while outlining the company's "global vision" in his first major strategy announcement since the recall crisis that hit a year and a half ago.

The Japanese automaker reported worldwide sales of 8.42 million vehicles last year - 30,000 more than General Motors Co.'s 8.39 million. Toyota dethroned GM as the world's No. 1 automaker by vehicle sales in 2008 - a position GM held for 76 years.

Speaking at a Tokyo hotel, Toyoda said the car maker wants to make millions of customers happy, and even denied he was giving a numerical sales target. He repeatedly emphasized goals like quality controls, customer satisfaction and solid profits.

Toyota, which makes the Prius hybrid and Lexus luxury models, hopes to achieve an annual operating profit of 1 trillion yen ($12 billion) "as soon as possible," even if the yen remains strong and vehicle sales drop by 20 percent, Toyoda said.

The company is forecasting operating profit of 550 billion yen ($6.6 billion) for the fiscal year ending March 31, The Associated Press reports.