Toyota may be the first automaker to exceed 10 million vehicles

TOKYO-Toyota Motor Corp. plans to produce more than 10 million vehicles this year, becoming the first automaker to reach that mark, according to industry sources.
Toyota and its subsidiaries expect to reach a combined production of 10.1 million vehicles in 2013, or 200 thousand to more than anticipated, said the sources, who asked not to be identified because the plan is not yet public. The new goals may be divulged when Toyota present their results in August 2, said the sources.
The projections show a recovery company that fought against a recall crisis, strong yen and natural disasters over the past four years. The annual profit of Toyota can jump 74% for the most high in six years, registering 1.68 trillion yen ($ 17 billion), as the weaker Yen boosts the value of Japanese exports, according to analysts ' estimates by Bloomberg ears.
The company can still maintain production above 10 million units in the coming years, said Masatoshi Nishimoto, an analyst at IHS Automotive in Tokyo. The German Volkswagen AG should reach the mark in only in a few years, he said.
Toyota's production rose 26 percent to 9.91 million units last year.
The Nikkei newspaper also reported, without citing figures, about the company's plans to raise its production projections. The company is reviewing its production and sales targets, said Kayo Doi, a spokesman in Tokyo.