Business

Toyota eyes annual sales of 10 million cars

Prius production line at Toyota Motors' Tsutsumi factory in Toyota
Image caption The Prius is one of Toyota's best-known models

Japanese carmaker Toyota has said it is aiming for global sales of 10 million vehicles a year by 2015, compared with 8.7 million in 2010.

The company is also targeting annual operating profit of 1 trillion yen ($12bn; £7.4bn) "as soon as possible".

Toyota is the maker of the Prius hybrid and Lexus luxury car models.

Last year, it hit the news for its mass recall of faulty cars, mainly for complaints of unexpected acceleration, which damaged its image in the US.

The recalls, and the way they were dealt with, were seen as a public relations disaster for Toyota, and sales suffered.

The firm has now blamed its rapid growth as part of the problem behind the recalls.

Resilience

Toyota aims to boost vehicle sales in emerging markets so that they comprise half of its global sales total.

As part of its reforms, the company will also cut its board to 11 members by June from the current 27 in order to streamline and accelerate decision making.

"This vision is about what kind of company we are, our values and the road to what kind of company we want to be," said Toyota President Akio Toyoda.

He also said he wanted Toyota to be a company "that will be able to make profits, pay taxes and secure jobs under any difficult circumstances".

Related Internet links

The BBC is not responsible for the content of external Internet sites