Toyota has been ranked the largest forklift supplier in the world for the second consecutive year by industry magazine, Modern Materials Handling.

With USD4.23 billion in forklift sales in 2003 sales, Toyota topped the "World's Top 20 Lift Truck Suppliers" list. The 2003 result eclipsed Toyota's sales record by USD1.13 billion.

Separate research by Crist Information & Research claims Toyota Material Handling USA (TMHU) has the largest percentage share of the forklift market in the USA.

TMHU president Dr Shankar Basu said the company would like to increase its sales again this year.

"The past year was incredible for Toyota and we expect to increase our sales again," he said. "We attribute our ongoing success to our strong dealer network, the well-timed introduction of new products and the emphasis Toyota puts on safety, customer satisfaction, overall value and technological innovations."