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Toyota piles woe on VW as it says it will remain world’s top-selling carmaker in 2016 | London Evening Standard

Toyota said it expects to retain its crown as the world’s top-selling carmaker next year, keeping it ahead of scandal-hit rival Volkswagen.

Toyota piles woe on VW as it says it will remain world’s top-selling carmaker in 2016 | London Evening Standard
Toyota piles woe on VW as it says it will remain world’s top-selling carmaker in 2016Toyota expects to sell more than 10 million cars next yearMario Anzuoni/Reuters

Toyota said it expects to retain its crown as the world’s top-selling carmaker next year, keeping it ahead of scandal-hit rival Volkswagen.

Its Daihatsu and Hino brands are set for global growth, and sales of the Toyota brand will be flat, it added.

The manufacturer expects sales to come in above the 10 million cars sold this year.

The Japanese carmaker also said that it plans to increase production by 1% to 10.2 million vehicles worldwide next year.

The comments came as it emerged that the European Bank for Reconstruction and Development has put the brakes on the €300 million (£218 million) it had approved to help build a new VW factory in Poland.

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The factory is set to produce up to 100,000 Crafter vans a year.

It is the latest blow for VW since the revelation in September that a number of its cars were found to have cheated US emissions tests.

The firm later announced plans to refit 11 million cars affected and last month its share of the European car market fell to 24.3% from 26.6% in November 2014.

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Its headache could get worse with environmental group China Biodiversity Conservation and Green Development Foundation saying this week it has sued VW over the use of software to rig emissions tests.

Shares decreased €1.60, or 1.28%, to €123.75.