Growing demand in emerging economies including China and India is expected to account for the rise, according to a report in the Japan Times.

In 2007, Toyota produced 8.53 million vehicles and sold 8.43 million units worldwide. The Japanese carmaker predicts production and sales will increase by more than 500,000 units annually over the next five years, but little growth is expected in Japan. The newspaper speculated that demand will see Toyota build new factories in the target areas.