Toyota wants 10 new hybrid models to improve its sales in Europe by 2013

Article by Christian A., on March 7, 2011

Toyota Motor Corp. believes that adding at least 10 new hybrid models will help boost an increase in European sales to 1 million vehicles by 2013 or 2014, an increase from about a quarter from last year, according to Toyota Motor Europe President Didier Leroy.

He also said that the automaker will aim to raise sales in the region by 10% this year from the 808,000 sold in 2010 -- higher than the 7% increase that headquarters had forecast last December.

Right before the start of the Geneva Auto Show, Leroy (the first non-Japanese head of Toyota's European operations last June) said that between 2013 to 2014, the company must go back to 1 million sales.

It’s likely that about 20% of those sales will be a hybrid car, compared with 9% last year. Toyota's European sales peaked at 1.2 million vehicles in 2007, before the financial crisis.

Leroy said that while Toyota's market share declined slightly to 4.6% in Europe last year due to the recall crisis, earnings were improving faster than expected because of a more disciplined approach to costs and marketing.

He said that in the October-December quarter, the European operations posted a profit of 20 million euros ($27.5 million), reversing losses for the first time in about three years. [via autonews - sub. required]

Topics: toyota, hybrid

If you liked the article, share on:

Comments

Recommended

We first heard of the fifth generation SEAT Ibiza earlier this year, and last week, the company finally revealed the all-new Ibiza at the international launch in Barcelona. The new...
by - May 22, 2017
The aftermath of the Takata airbag recall still largely resounds in the automotive industry, as big automotive companies like BMW, Mazda, Subaru and Toyota were extensively hit with what is...
by - May 22, 2017
Amid reports that major rival Volkswagen would cease producing 2016 and 2017 model year diesel cars following the wake of the "Dieselgate" scandal, it’s believed that Chevrolet sees its opportunity...
by - May 22, 2017
Honda recently whips out a new feature for the S660 Bruno Leather Edition. Any guesses? Well, it’s going to be an iPhone app that goes by the name Rev Beat....
by - May 22, 2017
And so it goes, Ford is not at all closing its doors to an all-electric F-150 pickup. The American manufacturer initially laid out its plans for an F-150 hybrid earlier...
by - May 22, 2017
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