Toyota Motor expects to produce 6.5 million vehicles globally on a parent company basis this year, down more than 20 percent from an estimated 8.2 million last year, the Chunichi newspaper reported. It would be the carmaker's lowest production volume since 2003 and 2004, said the daily, a regional newspaper where Toyota has its main manufacturing base.
Toyota is setting a global sales target for the year of about 7 million vehicles, and plans to produce fewer vehicles because it has a high level of inventories to clear, the paper said.
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