Japan's biggest carmaker said Wednesday that it's raising output.

Instead, that's as it races to meet strong demand from markets including China.

The firm also raised its full year earnings outlook.

As a result, it's now targeting a record $19 billion that's way above analyst forecasts ANDI its own earlier predictions.

Toyota now expects to sell 9.73 million vehicles this year.

That's over 3% up on previous forecasts, but still down on last year, when it shipped more than 10 million.

The bullish outlook for production stands in contrast to rivals Nissan and Honda.

On Tuesday, they both said that the chip shortage had cut output.

Toyota says it sees no such impact but admits that a chip shortage could bite at some point.