Torrance, California-based Toyota Motor Sales, USA has issued a statement regarding a Reuters news report that Toyota was considering a third U.S. brand to cater to young buyers:

"Toyota and Lexus, our two brands in the U.S., have enjoyed tremendous success in the luxury and volume car markets. Toyota is quite satisfied with the buyer profiles of each sales division.

"As part of Toyota's ongoing corporate planning efforts, the company is constantly evaluating future needs. The importance of appealing to younger buyers is a high priority.

"Toyota's genesis project successfully launched three youth-oriented projects in 1999 (Celica, MR2 Spyder and Echo. The genesis project continues to evolve, and helps guide future product and marketing plans aimed at younger car buyers.

"In anticipation of the launch of the Matrix crossover vehicle, Toyota is considering ways to take the genesis effort to the next level, including marketing a sub group of vehicles to specific buyers.

"However, there has been no consideration to introduce an additional dealer network."

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