Toyota to Raise Global Sales Forecast by Three Percent

Is there a light at the end of the economic tunnel? Toyota may think so. Several reports this morning indicate the automaker is raising its global sales forecast by3 percent for the fiscal year ending in March 2010.

The Tokyo Shimbun newspaper claims the company expects to sell nearly 6.7 million cars in that timespan, reportedly due to signs indicating a recovery in consumer demand. Toyota is also reported to increase its global production figures by8 percent, bringing the global total to 6.45 million vehicles in 2009.

Reuters suggests the shifts in Toyota's plans stem from auto-scrapping programs launched across the globe. Although "Cash For Clunkers" recently ended in the U.S., a similar program is still underway in Japan, and legislators in England are looking at extending their plan.

Source: Reuters

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