Toyota Motor Corp. aims to boost its European sales by up to 50% by 2010, a senior Toyota executive told Dow Jones Newswires this week.
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According to Dow Jones, Tadashi Arashima, chief executive officer of Toyota Motor Marketing Europe, said Toyota expects European sales of up to 1.2 million units by 2010.
Dow Jones reported that at present, Toyota ranks as Europe’s ninth largest automaker with market share of 4.4% and 755,600 units sold in 2002.
“This is an aspirational figure. We do not know exactly how we want to get there yet, but we’re aiming for around 1.2 million from around 800,000 this year,” Arashima told Dow Jones.
The report also points out that although Toyota currently produces the Yaris, Corolla and Avensis at factories in Turkey, Portugal, France and the UK, production capacity will have to be expanded to reach that target.
The company couldn’t give exact figures for their present manufacturing capacity but a Toyota report says by 2004 Toyota will be able to make 610,000 vehicles, 830,000 engines, and 550,000 transmissions, Dow Jones reported.
The report also suggested that shifts could be added at some European plants and that more production could take place in Turkey.
