Didier Leroy is leaving a financially stable Toyota Europe

Article by Christian Andrei, on March 19, 2015

Toyota Europe chief executive Didier Leroy will leave the unit to become Toyota Motor Corp.’s first non-Japanese executive vice president and the second non-Japanese executive on its 12-member board. His impending promotion comes after giving a life to Toyota’s once-bleeding European operations. When Leroy was named as top honcho of Toyota’s operations in Europe in July 2010, the unit had been financially bleeding for years.

He targeted to return the unit to black in the fiscal year 2013-2014, but was able to achieve it a year ahead of schedule. For the first nine months of Toyota’s current fiscal year ending March 31, 2015, Toyota Europe posted a 54-percent surge in operating profit to JPY66.4 billion (EUR519 million).

“We’ve had quite a big improvement in terms of return on sales and our profitability,” Leroy told Automotive News Europe in an interview at the Geneva auto show. He remarked that for the period, Toyota Europe’s operating margin was 3.1 percent – a large improvement over the 2.1-percent margin in the same period a year ago.

In contrast, the European units of General Motors and Ford each posted over $1 billion in losses in 2014. As Leroy, his has been “sustainable growth” – not chasing market share at the expense of profit. For the next fiscal year, he is expecting Toyota Europe to post another profit, and even told his sales team to look for a way not to lose money in the crisis-hit Russia.

In the first two months of 2015, Toyota posted a 29-percent drop in sales to 14,292 in a Russian market that fell 32 percent to 243,826 vehicles.

Under Leroy’s wings, Toyota and Lexus sales surged for four straight years and allowed them to hike their market share to 4.8 percent in 2014. The carmaker has been able to charge a small premium thanks to its focus on hybrids.

Topics: toyota, europe

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nikola Motor’s hydrogen-powered semi-trailer truck is highly appealing with its many advancements but don’t expect it to arrive in the near future. In November 2016, Toyota announced the possibility of...
by - December 5, 2016
Usually, it is up to resourceful spy photographers to take clear pictures of vehicle prototypes, especially those that have aroused a lot of interest. The same is true for Project...
by - December 5, 2016
The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries