Toyota hopes to rebound and grow it sales in India and China where auto markets are booming.
Toyota wants to make a comeback.
The automaker was hit hard by the earthquake and tsunami disaster in Japan last March which affected automobile production in that country and led Toyota to fall to third place in global vehicle sales. Toyota had held the top spot for 3 years after overtaking GM in 2008.
For the first half of 2011, Toyota sold 3.7 million units, a drop of 11 percent. That comes in behind VW Group's 4.13 million units and GM's 4.5 million.
But Toyota hopes a return to form will take place with success in Asia. The Japanese automaker is expanding production in India and hopes to grow sales in China, the world's largest auto market.
Toyota will sell around 900,000 units in China for 2011, a rise of 6 percent over 2010. And it is expanding production at its India subsidiary, Toyota Kirloskar Motor Private, to 310,000 units a year by 2013, from the current 160,000.
The Indian market is still small by global standards, 3 million units annually, but has great growth potential. China is the world's largest, 20 million units, and still has a large potential for growth, both in terms of volume and margins as Chinese consumers are buying ever more expensive cars.