Toyota is on track to reclaim their position as the world's largest automaker after losing the title to General Motors in 2011.

According to the company's estimates, they will sell 9.7 million vehicles this year. This is an impressive 22 percent increase from 2011 when sales hampered by the aftereffects of a massive earthquake and tsunami that struck Japan.

GM, on the other hand, is on pace to sell 9.3 million vehicles which would secure them the number two spot. Volkswagen isn't far behind with estimates pegging them at roughly 9 million vehicles.

While Toyota certainly had an impressive year, the company expects 2013 to be even better. According to their forecasts, the introduction of new and updated models will enable them to sell approximately 9.9 million vehicles.

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