Toyota Aims for Industry Record Output

Toyota Motor Corp. predicts it will become the world's first carmaker to build at least 10 million vehicles in a single year.

Toyota expects its group output, which includes its Daihatsu and Hino subsidiaries, to jump 28% this year to 10.05 million vehicles. The upwardly revised forecast includes increasing production in North America 1% to 2.38 million vehicles and cutting output in Europe 3% to 830,000 units.

Toyota now estimates its global sales will surge 23% year over year to a record 9.76 million units. The company's previous sales target for 2012 was 9.58 million vehicles. Toyota's sales through the first half of the year led rivals General Motors and Volkswagen by 300,000 units and 520,000 units, respectively.