Japan's Toyota plans 'record' 2012 output

Japan's biggest carmaker Toyota Motor plans to boost its global output to a record 8.65 million vehicles in 2012, boosted by demand in emerging markets, according to reports. Toyota anticipates continued growth in emerging markets in Asia and South America although sales outlooks in developed nations are murky due to the European debt crisis, the Nikkei business daily said. Toyota will probably decide on its production as early as next week before informing major parts suppliers, the paper said without naming its sources. Kyodo news agency, quoting unnamed company officials, also reported Toyota was in the final stage of setting a 2012 global production target for Toyota- and Lexus-brand vehicles of 8.65 million. The figure would represent an increase of about 20 percent from Toyota's estimated output for this year and surpass the current record of 8.53 million units set in 2007, before the the global financial crisis. Toyota's 2011 production was hampered by the March earthquake and tsunami disaster in Japan which disrupted supply chains, as well as massive flooding in Thailand. No immediate confirmation of the reports was available from the company.