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Toyota Raises Production on Overseas Vehicle Demand
http://www.bloomberg.com/apps/news?pid=20601087&sid=auBtO27tv2PY&refer=home
Dec. 25 (Bloomberg) -- Toyota Motor Corp., the world's second-largest carmaker, raised production to a record for November as demand for small cars rose in North America.
Vehicle output at Toyota increased 12 percent to 736,003 units in November from the same month in 2005, the company said in a release today.
Toyota plans to build 4 percent more vehicles next year, potentially ending General Motors Corp.'s 81-year reign as the world's largest carmaker. Toyota, which earns about 60 percent of its operating profit in North America, increased exports on higher demand for RAV4 sport-utility vehicles and Corolla sedans.
``Demand from overseas markets, especially North America, will keep Japanese automakers growing,' said Ichiro Takamatsu, chief investment officer at Alphex Investments Co., a Tokyo-based hedge fund. ``Their cars are very competitive.'
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