Toyota is aiming to produce 10 million vehicles in 2014, having aimed for a similar target last year.
AFP reports that Toyota manufactured 9.3 million vehicles between January and November 2013 and the company looks likely to pass the 10 million mark for last year when the December figures are released.
If that feat is achieved it would mean that Toyota would become the first ever auto maker to pass the 10 million mark. In 2012, the company passed General Motors to take the title of largest auto maker in the world.
According to the Asahi Shimbun newspaper, Toyota’s production is likely to fall after April, when Japan increases the consumption tax from five to eight per cent. However, the fall will be tempered by a decrease in the automobile acquisition tax in Japan.
The news comes as the future of Toyota’s manufacturing operations in Australia remains uncertain. The company has said that it will reveal its decision midway through this year.
Toyota Australia’s sales and marketing director Tony Cramb said that the future hinged on the car maker’s Japanese headquarters approving a bid to make the Camry in Australia for export.
"That is a process that we're going through now. We're working with our suppliers and our stakeholders to determine whether or not that's possible," he said.
"In order to achieve that we need to earn the next generation of Camry with export, and that decision will be made this year."