Blog: Dave LeggettToyota investment

Dave Leggett | 20 May 2003

I see Toyota is adding a third shift at its UK (Burnaston) and French (Valenciennes) plants, starting in the second quarter of 2004. Adding a third shift, Toyota in France could increase its current annual production capacity from 184,000 to 240,000 Yaris models. Annual production capacity in the UK will increase from the current 220,000 vehicles to around 270,000 Toyota Corolla and Avensis. Toyota is signalling once again that it is serious about hitting its targets for increased share in Europe.

Little wonder Toyota has been conspicuously quiet in the UK's euro debate lately though. Noises about the problems of being outside the euro area in the UK wouldn't sit terribly well with these investment plans. As GM recently noted when it decided to invest at Ellesemere Port in England, the currency question is just one element in the pot. I'd like to know what Toyota's working assumptions are for the UK's exchange rate position to the end of this decade though. I spoke to an economist at one of the big OEMs recently who was working on the assumption of 2009 euro entry for Britain.


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