Toyota, Peugeot-Citroen venture expects production to increase in 2012

Article by Christian Andrei, on March 27, 2011

Toyota Peugeot Citroen Automobile anticipates an increase in production in 2012. Compared to last year, the pretax profit at the joint venture (formed by Toyota Motor Corp. and PSA/Peugeot-Citroen) had little change since cost cuts had helped to offset a production drop.

At a press conference in Prague, TPCA President Satosi Tacihara said that the venture was able to “maintain good financial results” even if the number of vehicles decreased by 11% as scrapping incentives ended.

Tacihara added that the company predicts a return to production growth in 2012. Its pretax figure was "just under" 1.4 billion koruna ($81 million), compared with 1.4 billion koruna in 2009. The revenue of this carmaker, which is based in Kolin, Czech Republic, fell by 16% to 44.7 billion koruna.

The joint venture produces the Toyota Aygo, Peugeot 107 and Citroen C1 minicars, a portion of the market least affected by the global slowdown. Last year, TPCA's factory built 295,712 vehicles, lower by 11% than in 2009.

Tacihara said that a similar number is expected to be produced this year. He also said that the venture’s supplies are unaffected by the Japan disaster “at this moment" but that the company is monitoring the situation continuously.

Topics: toyota, peugeot, citroen

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