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

Article by Christian Andrei, 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

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