Toyota Motors Corporation Expected To Roll Out 10 Million Cars In 2016

Toyota Motors managed to get on the top of the list of automakers after Volkswagen gets caught up with diesel emissions scandal.

In 2016, the automobile giant, Toyota Motors Corporation expects to roll out over 10 million cars which in comparison to the current fiscal year 2015 represent flat global sales. However 2015 has been an impressive year for the automobile giant as it was the only Japanese automobile company that managed to match its global sales estimates for the year.

According to the forecasts, the company was supposed to have retail sales target of 10.16 million which it managed to slash at 10.098 million units. In addition to the decrease in retail sales, the auto corporation expects a decline in its worldwide wholesale volume by 0.22 million units; from 8.97 million units it will go down to 8.75 million units. The reason as to why there was a decline in the global sales was because of a slowdown in the demand for vehicles of the automobile company globally.

In comparison to 2015, the target for 2016 is expected to see a small increase in its expected sales; from sales of 10.098 million units to 10.114 million units indicating an increase of 0.16%. Since the last three years, the Japanese automaker has kept the title of being the world’s top seller in the automobile industry, despite of the fact that Volkswagen AG managed to surpass the Toyota’s target in the first quarter of Fiscal year 2015.

The German giant might have been the top automaker of year 2015 if it hadn’t been a victim of a controversial emission cheating scandal. For 2016, the automobile company is keeping its standards high and is expecting to meet the market demand by setting the target mark higher than 10 million units. The automaker is expecting a production of over 10.196 million autos worldwide which reflects a minute increase of 0.7% from 2015 production.

Throughout the current year, most of the top automakers have reported decline in their production. Many analysts believe that the following year will not be too bright for the automobile industry. They have claimed that the industry barely grows by 2% each year. Evidently, the market for cars in the United States is currently booming but it is important to take into account that the sales of these cars in China have been weak this year.

Additionally, Toyota Motors will continue to benefit from the falling sales of Volkswagen because of its diesel emissions saga. Currently, Toyota’s stock is being traded at 124.80 showing a decline of 1.47%. The company reported earnings per share of $11.94.