PARIS â€“ Key to Motor Corp.â€™s plans to increase sales to 1.2 million units annually by 2010 is the Aygo (pronounced I-go), the new small car the Japanese auto maker will produce at a joint-venture plant with Peugeot Citroen in the Czech Republic.
Motor Europe Chief Operating Officer Thierry Dombreval says the Aygo â€“ the name was revealed for the first time at the auto show here â€“ will play into Europeâ€™s highly popular small-car market.
Although details of the new model are not provided, Dombreval says the Aygo will slot below the Yaris small car in Toyotaâ€™s European lineup.
Toyota says it will have capacity for 100,000 vehicles at the new Czech plant when it opens in 2005.
Toyota sold nearly 630,000 vehicles in the first eight months of this year, propelling it to a 5% share of the European market. (See related story: Toyota Ups European Sales Target 40,000 Units)