Japanese auto giant Toyota Motor Corp. (TYT.L,TM) on Wednesday reported a 3 percent increase in worldwide sales for calendar year 2014 and retained its title as the world's top-selling automaker for a third consecutive year.
However, Toyota expects a 1 percent decline in its worldwide sales for 2015, which would be the first decline in its annual sales since 2011 when the automaker was impacted by the devastating earthquake as well as tsunami in Japan, and temporarily halted production.
Toyota's worldwide sales for 2014, including its subsidiaries, minicar maker Daihatsu Motor Co. Ltd and truck maker Hino Motors Ltd., increased 3 percent from the prior year to 10.23 million vehicles.
Toyota's rival and German car maker Volkswagen (VKW.L,VLKAF.PK,VOW.BE) said earlier in January that it sold 10.14 million vehicles in 2014, up 4.2 percent from the previous year.
Toyota's sales in Japan for 2014 rose 1 percent to 2.32 million vehicles, while sales outside Japan increased 3 percent to 10.23 million units. The company plans to announce its 2014 production results later in January.
Looking ahead to 2015, Toyota expects worldwide production to decline by 1 percent to 10.21 million vehicles, while worldwide sales is also projected to decrease by 1 percent to 10.15 million vehicles.
Toyota brand's worldwide sales for the year is expected to edge up 0.4 percent to 9.18 million vehicles, while Daihatsu brand worldwide sales is projected to decline 13 percent to 800,000 units. Hino brand sales is expected to increase 3 percent to 170,000.
Toyota's total sales in Japan for the year is expected to decline 9 percent to 2.10 million vehicles amid an anticipated slump in demand for vehicles due to the consumption tax increase last April, while the company's sales outside Japan is projected to increase 2 percent to 8.06 million units.
The automaker expects its 2015 production in Japan to decline 6 percent to 3.97 million vehicles, while its production outside Japan is expected to rise 3 percent to 6.24 million units.
TM is trading at $128.45, down $0.71 or 0.55 percent on a volume of 362,719 shares.
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