GENEVA -- Toyota Motor Corp. plans to sell about 700,000 European-built vehicles annually in Europe beginning next year.
Toyota will hit that mark when the Toyota-PSA Peugeot Citroen joint venture in Kolin, Czech Republic, reaches full production. The plant recently began production of minicars for the three brands.
Toyota will consider further increases in European production as it pushes for 1.2 million European sales by 2010, its top European executive said Monday in an interview prior to the Geneva auto show.
Tadashi Arashima, president and CEO of Toyota Motor Marketing Europe, said that Toyota expects to sell 100,000 units annually of the Aygo minicar assembled at the plant. Toyota has also added capacity elsewhere in Europe, although some of its European production is exported.
Toyota will continue to import vehicles to Europe from Japan, South Africa and Thailand. But, Arashima said, it could add European production if sales grow.
"It depends on the development of the sales, but certainly we may need to add more production capacity here in Europe," he said.
According to estimated registrations from 26 European nations, Toyota sold 725,687 vehicles in Europe in 2004.
Arashima also said:
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