Toyota Europe Sets Sales Targets

On the heels of better-than-expected auto sales in Western Europe, Toyota Motor Corp. announces a new long-term sales goal of 1.2 million units by 2010. Toyota uses the Frankfurt Motor Show to reveal its ambitious plan for the region, buoyed by record sales.

Through August, Toyota sold more than 560,000 units — up 8% from year-ago, says Takis Athanasopoulos, executive vice president and chief operating officer of Toyota Motor Marketing Europe.

Market share now is 4.8% from 4.5% year-ago — a considerable achievement in a sluggish European market that is down 2%, he says.

Among the gainers: a 13% increase in Toyota RAV4 sales and a whopping 110% hike in Land Cruiser sales. In its first five months in the market, the Lexus RX 300 luxury cross/utility vehicle sold more than 5,000 units.

The results exceed regional expectations that prompted the current sales target, set five years ago, of 800,000 units by 2005. Toyota will reach the target this year, says a pleased Athanasopoulos.

Athanasopoulus says the specifics of how the auto maker will achieve sales of 1.2 million have yet to be pinned down. But a combination of new product and increased capacity are planned.