Toyota stays global top-dog
Japanese giant retains its positions as world's number one car-maker; posts record profitToyota was the world’s top-selling car-maker again in 2013, when a weaker Japanese yen also helped it to a record profit.
The Japanese giant, which will decide within months if it will continue to manufacture cars in Australia, notched up 9.98 million vehicle sales last year, including sales of its Lexus, Daihatsu and Hino divisions.
That was again enough to defeat General Motors (9.71 million) and the Volkswagen Group (9.7 million) to the coveted global number one position.
Buoyed by its success, Toyota has forecast it will sell 10.32 vehicles this year, and has increased its forecast operating profit for the Japanese financial year ending March 31, from ¥1.67 trillion ($A18.4b) to ¥1.9 trillion ($A20.9b).
If it hits its target, Toyota will smash its previous best operating profit of ¥1.718 trillion ($A18.9b) in 2007/08 – before the GFC.
Toyota made no reference to its Australian operations when it announced its third-quarter financial results last week, but said doubt over the performance of emerging markets would continue its freeze on establishing new plants – other than new facilities already announced for Thailand and Indonesia.
Thailand is one of a number of counties with which Toyota Australia is competing for the right to produce the next-generation Camry from 2018, the year after GM Holden will cease making cars in Australia. Ford will stop manufacturing here two years earlier in 2016.
Efforts to increase the efficiency of its Altona plant – to the tune of $3800 per vehicle – are more crucial than ever following recommendations by the federal government-appointed Productivity Commission to axe all taxpayer assistance for the car industry by 2020.
President and CEO Max Yasuda will this afternoon make his annual address to employees, including union-led factory workers who succeeded in achieving Federal Court action blocking Toyota Australia from seeking variations to the current workplace agreement.
Toyota Australia’s appeal against the court’s decision is not due to be heard until May.
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