Aug 22 (Reuters) - Toyota Motor Corp (7203.T), the world’s biggest automaker, may likely post a 10 percent rise in August car sales, its first increase in 13 months, the Nikkei business daily quoted a company executive as saying.
The popularity of its Prius hybrid, as well as tax breaks for eco-friendly vehicles and subsidies on trading in old cars for new, fuel-efficient models, would likely drive sales for the company, the paper said.
The Prius hybrid was Japan’s best-selling car in July for a second straight month, underscoring the robust demand for fuel-efficient vehicles. [ID:nT54846]
The Japanese automaker expects Prius sales in the second half to remain above the year-ago levels, the paper said.
Earlier this month, Toyota forecast a slightly shallower annual loss, relying on deeper cost cuts and a government-backed sales boost, underscoring doubts over a sustainable recovery in demand. [ID:nT172427] (Reporting by Savio D‘Souza in Bangalore; Editing by Deepak Kannan)