Toyota Australia says yesterday's easing of interest rates could be the stimulus the local new-vehicle market needs to reach one million sales in 2008.

The company's senior executive director sales and marketing David Buttner said business and consumer confidence would be helped by the Reserve Bank's decision to cut the official cash rate by 0.25 points.

Mr Buttner said the 2008 market was shaping up as the second strongest ever after last year's record of 1.05 million sales.

"Total new-vehicle sales to the end of August are ahead of the same stage last year by more than 5000 units," Mr Buttner said.

"While the first six months were the best on record, tighter economic conditions have led to an easing in demand over the past few months.

"However, the industry remains on track for a full-year total around one million, which would be only the second time that number has been achieved.

"The final result will depend largely on what happens to consumer confidence and fuel prices over the next few months.

"The introduction of new models and other marketing actions across the industry will also spur the market."

Toyota has been the top-selling automotive brand for all but two months in the past five years - and for the past 41 months in a row.

Mr Buttner said the support of customers had enabled Toyota to lift sales 5.8 per cent to an industry record of 165,641 deliveries to the end of August.

He said much of the company's success was due to the commitment of the extensive dealer network.

"Toyota dealers have invested around $100 million a year on facility expansions, upgrades and redevelopments in recent years - and similar levels of investment are expected in the years ahead.

"Corolla is vying for the title of Australia's best-selling car, while Yaris, Camry, RAV4, Prado, LandCruiser 200 Series, HiAce and HiLux continue to be the top-selling vehicles in their segments and Prius is the leading hybrid car," Mr Buttner said.