TOKYO (Thomson Financial) - Toyota Motor Corp will raise its projected global production to almost 10 million vehicles next year, and could soon outpace U.S. rival General Motors Corp. to become the world's largest automaker, a newspaper reported Sunday.
Japan's top automaker plans to raise its output projection for 2008 to 9.95 million vehicles worldwide from 9.90 million projected for the current year, the Nikkei business newspaper said. It did not say where it got the information.
The production increase reflects booming sales in China, the Middle East and other emerging economies, the Nikkei said.
Toyota officials could not immediately be reached for comment on the report.
Toyota reported in November its worldwide production totaled 7.05 million vehicles in the first nine months of this year, just short of 7.06 million vehicles sold by GM for the same period.
Analysts expect Toyota to soon overtake GM as the world's largest automaker, however, as the Japanese company gains global popularity with its fuel-efficient models amid rising gas prices.
The Nikkei said Toyota's global output could surpass GM's as early as the end of this year.
Toyota is expecting a 4 percent increase in its global output to 9.42 million units this year, compared to GM's projected 9.26 million announced this month _ and if that happens, Toyota would become the world's largest automaker for the first time, the Nikkei said. Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. tf.TFN-Europe_newsdesk@thomson.com hjp COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.