TOKYO: Toyota Motor Corp expects Japan vehicle sales to fall by a fifth next year, in part due to the end of government tax incentives for fuel-efficient automobiles, domestic media reported, adding to the pain from a decline in China sales.
Japanese vehicle sales account for 30% of Toyota's total sales volumes, and industry data shows that since the end of government tax incentives for purchases of fuel-efficient cars in mid-September, domestic new vehicle sales have fallen each of the past three months.
Toyota has decided to set its 2013 domestic sales target for Toyota-brand cars at 1.36 million vehicles, down from its 1.67 million target for this year, the Mid-Japan Economist, a regional newspaper, said on its website without citing sources.
It noted that a backlog of orders following supply-chain disruptions from last year's earthquake and tsunami had inflated sales this year.
A Toyota spokesman said nothing had been decided about its 2013 domestic sales target.
Last month, Toyota cut its group-wide global 2012 sales forecast, which includes Daihatsu Motor Co Ltd and Hino Motors Ltd, to 9.66 million vehicles from a previous outlook of 9.76 million vehicles, following declines in China sales on a bilateral territorial dispute over islands in the East China Sea.
This week, it said sales in China, the world's biggest car market, fell 22% in November from a year earlier which follows drops of 44% in October and nearly 50% in September.
Toyota shares stood 0.4% higher at the midday break, in line with a 0.2%rise for the benchmark Nikkei 225. Reuters
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