Toyota says it's on track to sell 9.7 million vehicles this year, as it settles US lawsuits

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TOKYO - Toyota says it expects to sell 9.7 million vehicles this year, bouncing back by 22 per cent from a disaster-struck 2011. It has set an even higher target of 9.91 million vehicles for 2013.

The numbers released this week underline Toyota Motor Corp.'s solid turnaround from supply disruptions caused by the earthquake and tsunami in northeastern Japan in 2011 that had hurt global production and sales.

They also underline the Japanese automaker's ambitions to move past the woes from massive recalls that began in 2009, especially in North America.

On Wednesday, Toyota said it reached a settlement of more than $1 billion to resolve hundreds of lawsuits from Toyota owners who said the value of their cars and trucks plunged after the recalls.

Organizations: Toyota Motor

Geographic location: US, TOKYO, Northeastern Japan North America

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