Toyota to return to 1mn sales in Europe image

Toyota’s regional chief said on Thursday, that the Japanese automaker will return to the sales levels of more than 1m cars in Europe. Also, the automaker announced that is on track to claw back the 40,000 units of vehicle production the company lost in Europe after March’s earthquake and tsunami in Japan.

“We will start to grow in the pan-European market,” Mr Leroy told the Financial Times in an interview on Wednesday. “There is absolutely no reason for Toyota to sell fewer than 1m cars in Europe.” Didier Leroy, president and chief executive of Toyota Motor Europe said.

Last year when the economic crisis hit the entire European markets the automaker succeeded to sell 808,000 cars in Europe – but this year Mr. Leroy said sales will be “much higher than that”. How many? – Leroy didn’t give any specific number but the automaker is expected to give its global sales forecast this Friday.

We remind you that Toyota was one of the most affected automaker in Japan after the massive earthquake hit the country back on March.
Toyota took the biggest hit out of the top three Japanese automakers due to the higher percentage of Japan-built vehicles it sells in the U.S. market — it builds 38 percent of its cars in Japan compared with 25 percent at Nissan and Honda.

However, production at Toyota is returning to pre-quake levels faster than the company anticipated, with output in June likely to reach90 percent of pre-quake levels, a company spokesman confirmed on Wednesday.