That announcement coincided with more bad news from DaimlerChrysler, which said on Friday its Chrysler division will make additional production cuts in the third and fourth quarters to reduce dealer inventories.
The Big Three, which rely more on light trucks for profits than their foreign competitors, have been hurt by declining sales of pickups as customers switch to more fuel-efficient vehicles. They are also struggling with the need to reduce so-called "legacy costs" of big pay and benefits packages for workers and retirees.
Despite its ambitious outlook, however, even Toyota recognizes no automaker is invincible.
Last month, Toyota president Katsuaki Watanabe warned that his company could delay the introduction of some new models as it tries to improve its quality control amid a spate of recalls. The glitches were partly due to efforts to cut costs by using the same parts across different models, but they could do lasting damage to Toyota's reputation for reliability.
investigations
Japanese authorities have launched an investigation into three Toyota officials suspected of failing to take action about a faulty steering part, which may have played a factor in causing a 2004 accident that injured five people.
The US government has also opened an investigation into Toyota Sienna minivans that were made from 2004 until last year after receiving complaints that their lift gates had failed, causing the hatchback to close on motorists' heads.
In China, authorities recently said Toyota will launch a recall of 20,069 Crown sedans that were made there because of the discovery of defective rubber strips used in the windshields.
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