By Marcus Leach

Car manufacturer Toyota have unveiled plans for 2012 where they will aim to increase production by 20% to make up lost ground due to the earthquake in Japan and floods in Thailand.

The company have set their goal to produce 8.48 million vehicles in 2012, and increase sales by a quarter to 8.65 million.

The knock-on effects of the earthquake and floods have seen Toyota lose its crown as the world's biggest carmaker, which now goes to General Motors.

Earlier this month, the carmaker halved its profit forecast for this year.

It now expects a net profit of 180 billion yen ($2.3 billion; £1.5 billion) for the year ending 31 March 2012, compared with its previous forecast of 390 billion made in August.

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