Auto Channel

Toyota is the world’s biggest company in terms of production in 2007, according to the figures released by the company and rival GM. The Japanese company has declared 9.51 million produced vehicles in 2007, whereas General Motors has 9.26 million. Those figures of Toyota include subsidiaries Daihatsu and Hino Motors as part of the company. Toyota released its data on Christmas, but GM on Dec. 3. So it’s not over yet, as GM’s figures are estimated.

In order not to wait in the same way next year, Toyota plans to build a record number of vehicles in 2008 to extend the lead over GM as the world's biggest car maker by production. Output will rise 5 percent to 9.95 million vehicles in 2008, while sales are planned to rise also with 5 percent to 9.85 million.

Toyota is Japan's most profitable company. It opened a factory in St. Petersburg, Russia last week, and will add production in North America and China in 2008. Rising gasoline prices are spurring demand for the Toyota City-based car maker's fuel-efficient Camry sedans and Prius gasoline-electric hybrid cars.