Toyota could overtake GM as the world’s largest automaker in 2007

Japanese auto maker Toyota could become the world’s largest automaker next year if we are to believe reports in the media.

However, Toyota has not said it publicly that they expect to make and sell more cars in the market than GM next year.

Company president Katsuaki Watanabe released their production targets for next year but focused on their desire to step up quality levels in their products.

He further said that Toyota cars are benefitting from the recent surge in oil prices as more customers now prefer to get a fuel efficient car.

The company has set itself a target of global production of 9.42 million vehicles for 2007. GM is rumored to have a global production of 9.2 million cars this year and they are unlikely to better that next year.

Toyota further said that they are considering adding another plant in North America.

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