TOKYO, Sep 22 (Reuters) Toyota Motor Corp. plans to increase production of its popular Prius hybrid cars in Japan to 300,000 units in 2007, a rise of 50 percent, business daily Nihon Keizai reported on Friday.
Japan's top auto maker dominates the market for hybrid cars, which twin a conventional engine with an electric motor to improve mileage, and is keen to spread the system as the main alternative to today's internal combustion engines.
With gasoline prices rising and concerns growing about climate change, hybrids and particularly the Prius have grown in popularity in North America and to a lesser extent Japan.
The paper said the automaker would shift production of other models away from plants where it produces Prius sedans and use the equipment that is freed up to increase output while limiting additional investment.
A Toyota spokeswoman could not immediately confirm the report.
Toyota said in June it would double the number of hybrid cars in its lineup soon after 2010. It currently mounts the system on seven models, including the Prius, and has targeted sales of 1 million hybrid cars annually soon after 2010.
Toyota lifted its interim net profit outlook on Wednesday by a third and mapped out a plan to keep cranking up sales by rolling out new strategic cars and boosting plant efficiencies.
It forecast its group global vehicle sales will grow 11 percent to 9.8 million units in 2008 from an expected 8.85 million units this year, supported by the planned addition of 1.13 million units in output capacity worldwide by then.
That goal means Toyota is more likely than ever to overtake General Motors Corp. as the world's top seller of automobiles -- a position GM has held for 75 years.
Shares in Toyota ended the morning down 0.8 percent at 6,290 yen. The Nikkei average fell 0.89 percent.
Reuters DKS VP0755
Japan's top auto maker dominates the market for hybrid cars, which twin a conventional engine with an electric motor to improve mileage, and is keen to spread the system as the main alternative to today's internal combustion engines.
With gasoline prices rising and concerns growing about climate change, hybrids and particularly the Prius have grown in popularity in North America and to a lesser extent Japan.
The paper said the automaker would shift production of other models away from plants where it produces Prius sedans and use the equipment that is freed up to increase output while limiting additional investment.
A Toyota spokeswoman could not immediately confirm the report.
Toyota said in June it would double the number of hybrid cars in its lineup soon after 2010. It currently mounts the system on seven models, including the Prius, and has targeted sales of 1 million hybrid cars annually soon after 2010.
Toyota lifted its interim net profit outlook on Wednesday by a third and mapped out a plan to keep cranking up sales by rolling out new strategic cars and boosting plant efficiencies.
It forecast its group global vehicle sales will grow 11 percent to 9.8 million units in 2008 from an expected 8.85 million units this year, supported by the planned addition of 1.13 million units in output capacity worldwide by then.
That goal means Toyota is more likely than ever to overtake General Motors Corp. as the world's top seller of automobiles -- a position GM has held for 75 years.
Shares in Toyota ended the morning down 0.8 percent at 6,290 yen. The Nikkei average fell 0.89 percent.
Reuters DKS VP0755
Oneindia Login