Toyota Expects Its Sales to Shrink This Year

Toyota Motor Corp. says its worldwide sales, including those of subsidiaries Daihatsu and Hino, are likely to slip 1% to 10.15 million units in 2015.

The shrinkage could enable Volkswagen AG to outsell Toyota this year and replace it as the world's largest carmaker. Toyota and VW Group sold 10.23 million and 10.14 million vehicles, respectively, in 2014. Both were record highs.

Toyota's sales stall reflects the determination of CEO Akio Toyoda to refocus on bolstering quality and profits before resuming a push for greater sales volume. Toyoda has imposed a three-year moratorium on new factories until March 2016.