Monday, October 5th, Toyota began production of the Auris at its Derbyshire factory increasing its full-year net profit to £6bn.
Toyota has already made an investment of £185 million in its UK supply and manufacturing chain for the new Auris, adding 800 employees. The ceremony at the Burnaston factory was attended by business secretary, Vince Cable who said that Toyota Auris production beginning coincides with the company’s celebration of 20 years of manufacturing in the UK.
“Toyota’s £185m investment is good news for the UK supply chain and helping to improve skills and training. Eight hundred workers have already been recruited and offered Toyota production apprenticeships,” he said.
Toyota and its two joint ventures in China saw their sales halved in September and October due to the violent protests in the country. Honda has already reduced by a fifth its full-year net profit due to China damage, while Nissan is expected to do the same thing when it reports results for the Jan-Sept period. Toyota has raised its target for the year ending March 2013 to 780 billion, up 2.6% from the previous target.
During the Jan-Sept period Toyota and its joint ventures sold 7.4 million vehicles globally, surpassing GM and VW as the top selling carmaker.