TOKYO: Toyota Motor is aiming to produce more than 10 million vehicles in 2014, a bullish target that could boost other industries in Japan, a report said. The Toyota group’s production may drop temporarily after April 2014, when Japan increases the consumption tax from five to eight percent, according to a national newspaper. “The impact of the tax hike should be blunted by a lowering of the automobile acquisition tax that will also become effective from the new fiscal year starting April”, the newspaper said. With Japan’s economic recovery set to remain solid, Toyota expects its production to pick up for achieving the target. The company being Japan’s biggest manufacturer aims to produce a record 10.12 million vehicles, after it overtook General Motors in 2012 to regain the title of ‘World’s Biggest Automaker’.
Published in The Express Tribune, January 12th, 2014.
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