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Toyota looks to Europe for sales boost

22 March 2012 No Comment

Japanese car giant Toyota expects higher European sales in 2012 despite a tightening market, the company’s president in Europe Didier Leroy says.

Speaking the day before the opening of the Geneva International Motor Show, Leroy said Toyota plans to sell 835,000 vehicles in Europe (including Russia) in 2012.

Sales growth would diverge with the western European market which Toyota expects to contract by five percent.

The car market in eastern Europe will be stable, Leroy said.

He said Toyota was cautious on Europe as consumers endured an uncertain economic climate.

Last year Toyota sold 822,000 vehicles in Europe despite the earthquake and tsunami that struck Japan in March and upended the company’s global supply chain.

But Leroy said Toyota no longer suffered shortages and the onetime world leader would grow in Europe “in a profitable way”.

Overall European operations for the fiscal year that ends this month were profitable though the auto sector lost money, Leroy said.

In the 2012/13 year, “we will be profitable on both sides,” Leroy said.


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