Toyota’s European business is set to turn a profit in the 2012-2013 financial year after a five-year hiatus, a senior official said at the Geneva show.
“It will be the first time since 2007 that Toyota will be profitable in Europe,” Didier Leroy, head of the group’s European operations, told The Telegraph Online.
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Over the first nine months of Toyota’s financial year – which runs from April to the end of March – the group said it had earned EUR209m (GBP180m).
“We will return to profit in our automotive business in Europe,” Leroy forecast. “And there is no question, we will be profitable in 2013,” he added.
Overall sales are expected to fall by 3% this year to 11.5m vehicles, including the key Russian market.
Toyota is counting on the launch of new models – notably hybrid cars – to underpin its deliveries.
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By GlobalDataLeroy said Toyota’s goal was to sell 1m vehicles in Europe in 2015.
