Toyota Motor Corp., Japan’s top auto maker,...

Toyota Motor Corp., Japan’s top auto maker, probably will form a sales and production venture with General Motors Corp. in Australia, said Shoichiro Toyoda, Toyota’s president. But he added that the two companies were still reviewing the concept. The discussions are a response to an Australian government plan to limit the number of car models produced in the country to six from the present 13, and the number of auto makers to three groups from five by 1992. Currently, Ford Motor Co. and Japan’s Nissan Motor Co. are discussing the prospects of jointly selling certain car models in Australia. Australian motor vehicle sales slumped to their lowest point in 14 years last year, with car and truck sales tumbling 24% from the year-ago level. Toyoda said the GM-Toyota relationship would be a limited sales and production combination, rather than a complete merger of operations.