Toyota sets new 2008 European and worldwide sales targets

Toyota Motor Europe (TME) today announced it aims to exceed 1.2 million unit sales in Europe in 2008, thereby achieving its 2010 sales target two years ahead of time.

For 2006, Toyota has set the European target of exceeding 1 million units in Toyota brand sales and 48,000 units in Lexus brand sales. Operating at record capacity, Toyota aims to produce 806,000 cars, 860,000 engines and 575,000 transmissions in 2006.

TME’s President and CEO, Mr Tadashi Arashima, said: “ Toyota is firmly committed to further growth in Europe. This can only take place if we assume our responsibilities as a good European corporate citizen by providing our customers with the most innovative environmental and safety technologies and superior quality service and products.”

TME anticipates that steady growth in Western Europe will be accompanied by accelerated growth in Eastern European and Russian markets enabling it to continue to challenge its sales targets. With its new St Petersburg plant – where the Camry will be manufactured – opening in 2007 in Russia, Toyota’s sales growth will be supported by a manufacturing network of nine plants to provide a European production capacity in excess of 850,000 units.

In 2005, Toyota enjoyed its ninth consecutive year of record sales in Europe. With 964,208 vehicles delivered – 935,431 Toyota and 28,777 Lexus – Toyota saw its sales rise by 5 per cent over the previous year, in a flat total market. Toyota’s market share was up 0.2 percentage points to 5.1 per cent – the highest market share ever for the company in Europe. Toyota also produced 638,000 cars, 588,000 engines and almost 337,000 transmissions at its plants.