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By TIMES WIRES
Published September 21, 2006

Toyota's 2008 sales goal: 9.8-million vehicles

Toyota is aiming to sell 9.8-million vehicles globally in 2008, the company's president said Wednesday, as the Japanese automaker quickens the pace to overtake General Motors as the world's biggest auto seller. The announcement by Toyota Motor Corp. president Katsuaki Watanabe comes at a time when money-losing General Motors Corp. is scaling back production to focus on restructuring its business. Toyota sold 8.13-million vehicles worldwide in 2005, and is set to sell about 8.85-million vehicles this year, including sales from subsidiaries, truckmaker Hino Motors and Daihatsu Motor Co., which makes small cars, it said. Toyota surpassed Ford as the world's No. 2 automaker in annual global vehicle sales in 2003. GM sold 9.2-million vehicles worldwide in 2005, the second-largest volume in the company's history. "It's a positive and aggressive plan," said Shotaro Noguchi, auto analyst with Mitsubishi UFJ Securities Co. in Tokyo, adding that Toyota is likely to achieve its target, as sales are solid for the Corolla and other small Toyota models.

Other chatter

FED MAY REVISE TRUTH IN LENDING: The U.S. Federal Reserve, responding to growing bank and consumer risks from "nontraditional" mortgages, is considering revising Truth in Lending disclosures to require clearer information for customers seeking mortgages. The Fed wants bank communications to consumers to be "complete and balanced in their description of loan features and risks," said Sandra Braunstein, the Fed's director of the division of consumer and community affairs, in testimony before a Senate Banking subcommittee hearing.

GAYS MORE WELCOME IN BUSINESS, STUDY SAYS: Corporate America is becoming a far more welcoming place to its gay, lesbian, bisexual and transgender employees and consumers, according to the annual Corporate Equality Index by the Human Rights Campaign. An unprecedented 138 major U.S. companies scored a top ranking of 100 in 2006, up from 101 companies last year. In the past four years, the number of perfect scores has grown tenfold as more companies enact antidiscrimination policies, provide same-sex domestic partner benefits and engage in philanthropic or marketing activities directed toward the gay, lesbian, bisexual and transgender community.

KATE MOSS CLOTHING LINE COMING: Supermodel Kate Moss agreed to help design and lend her name to a spring clothing line for British billionaire Philip Green's Topshop chain. The clothes will be sold in all Topshop stores in the United Kingdom and overseas. Terms were not disclosed.

[Last modified September 20, 2006, 23:21:14]