Toyota Targets Annual Sales of 10 million

Toyota eyes annual sales of 10 million

Japanese carmaker Toyota is targeting annual operating profit of 1 trillion yen ($12bn; £7.4bn) “as soon as possible”.

The company  is aiming for global sales of 10 million vehicles a year by 2015. In 2010 it was 8.7 million.

Last year, the news for the recall of faulty cars damaged its image in the US, were seen as a public relations disaster for Toyota, and sales suffered. Complaints were about unexpected acceleration.

Now Toyota aims to boost vehicle sales in emerging markets.

The company will cut its board to 11 members by June from the current 27 in order to streamline.

Toyota President Akio Toyoda said he wanted Toyota to be a company “that will be able to make profits, pay taxes and secure jobs under any difficult circumstances”.

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