Toyota Sees 2005 Hybrid Models Improving Sales December 2004

Toyota projects stronger sales in 2005 from its newer models, which include hybrid cars that the company says will raise sales figures by seven percent.

Toyota Motor Co. projects stronger sales in 2005 from its newer models, which include hybrid cars that the company says will raise sales figures by seven percent.

The world's largest auto manufacturer is banking on global demand to rise in Europe and the United States in 2005, estimating that it will set a new record in new car sales next year.

At a press conference in Tokyo today President Fujio Cho told reporters that Unit sales, including those of affiliates Daihatsu Motor Co. and Hino Motors Ltd., will probably total 8.03 million vehicles next year. Cho put the total sales figure at 7.18 million Units, or about 8 percent.

A bright spot in his company's plans was that new production facilities were planned for Europe, Thailand and the United States in 2006.

Toyota's expansion plans for 2006 are line with its goal of selling 8.5 vehicles that year.

The auto manufacturer plans to release the Aigo compact car in Europe and remodeled versions of the GX and RX sport-utility vehicles in the U.S., where the company is gaining on General Motors and Ford.

"We expect sales in China, Russia, Eastern Europe and the U.S. to help meet the sales target of 8.5

Toyota plans on opening a new plant in Texas in 2006 that will manufacture hybrid cars, Cho said. The company is also planning to produce Aigo compact cars with PSA Peugeot Citroen in 2005 in the Czech Republic and the Camry sedan in China with Guangzhou Automobile Group Co. Chairman Hiroshi Okuda has said the company may build a factory in Russia.

Cho also commented on General Motors saying, "We are not looking at GM's production compared to ours, we do not care about that."

In the first 11 months of the year, GM's sales in the U.S. declined 0.8 percent to 4.19 million units. Ford's sales fell 5 percent to 2.83 million units. Toyota boosted U.S. sales 9.3 percent to 1.87 million units over the same period.

Investors took the news with stride, with Toyoto closing up 42 cents at $78.07 on the New York Stock Exchange. General Motors closed up 63 cents at $39.54 and Ford closed up 5 cents at $14.71.

SOURCE: Axcess News

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