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  • Toyota plans higher output

    Jan 15
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    Toyota Motor Corp. plans to produce more vehicles without increasing capital investments as Volkswagen AG attempts to surpass it as the world’s largest carmaker by 2018.

    “We are challenging ourselves to produce more even as we restrain capital spending,” President Akio Toyoda said yesterday at the North American International Auto Show in Detroit.

    The carmaker plans to keep annual capital spending at about 700 billion yen ($8.46 billion) for at least the next five years, Executive Vice President Atsushi Niimi said Dec. 24. With more efficient processes, the Toyota City, Japan-based carmaker seeks to be as productive as when it spent more than twice that three years ago, he said.

    “There have been companies that have gone belly-up for carrying excess capacity, but no company has gone bankrupt for not being able to produce,” Niimi said. “We now realize humbly that we shouldn’t make cars until we’re absolutely certain they will sell.”

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