Toyota's the world's biggest car manufacturer

TOKYO, JAPAN: Toyota shares on Tuesday (18 December) finished at their highest level this year, boosted by a weaker yen and a report that said the firm was on track to be the world's biggest car manufacturer in 2012.

Toyota's stock closed up 2.76% at ¥3,720 yen after the unit plunged to its lowest level for months against the dollar and euro following weekend elections which were won by Japan's conservative opposition.

The change in government is likely to see Tokyo heap pressure on the Bank of Japan for more aggressive easing of monetary policies.

Easing measures tend to weigh on the unit and a weaker yen helps Japan's exporters by making their products more competitive overseas.

Separately, Japan's Asahi Shimbun newspaper reported on Tuesday (18 December) that Toyota was on track to be the biggest car-maker in the world this year, selling about 9.7m vehicles.

This was despite a territorial spat with China that has reduced sales in the lucrative Chinese market.

Company figures showed Toyota, whose brands include Lexus, Daihatsu and Hino, topped the global car manufacturers' table in the first half of 2012, moving past General Motors and Volkswagen.

Toyota lost the title last year -- a spot it had held between 2008 and 2010 -- following a slump in production and sales owing to Japan's quake-tsunami disaster in 2011 coupled with floods in Thailand.

Source: AFP via I-Net Bridge