Nov. 6 (Bloomberg) -- Toyota Motor Corp., the world’s biggest carmaker, may increase vehicle sales in China 19 percent this year, the company said.

Toyota’s sales may rise to 700,000 units, Senior Managing Director Takahiko Ijichi told analysts and investors in a presentation made available on the company’s Web site today.

The carmaker yesterday narrowed its net loss forecast to 200 billion yen ($2.2 billion) for the year ending March 31, compared with an earlier estimate for a 450 billion yen loss. The Toyota City, Japan-based company cited higher-than-expected demand in Asia and the U.S.

Toyota booked a one-time charge of almost 10 billion yen in the three months ended Sept. 30 related to the closure of the New United Motor Manufacturing Inc. assembly plant in Fremont, California, Ijichi said. Shutting the factory, a joint venture with General Motors Co. for 25 years, will result in additional costs later, he said.

To contact the reporter on this story: Makiko Kitamura in Tokyo at mkitamura1@bloomberg.net

Last Updated: November 6, 2009 02:17 EST