Toyota Europe Targets 20K Priuses in 2005, Banks on New Diesels

17 January 2005

Reuters. The head of Toyota Motor Corp’s European marketing arm intends to beat internal projections by a third to sell 20,000 Prius hybrid cars in Europe in 2005.

“In the long run, (hybrids) will play a significant role in the model line-up, but for the time being still, the recognition of the hybrid drive is not so high in Europe so we are gradually trying to increase these sales,” [Tadashi] Arashima [Chief executive of Toyota Motor Marketing Europe] said.

“My personal goal is instead of 15,000 (to sell) 20,000.”

The official corporate forecast of 15,000 units this year represents an 84% increase over the 8,136 Priuses sold in Europe in 2004. The Prius was recently voted the 2005 European Car of the Year.

Currently Toyota has the capacity to produce 180,000 Priuses in 2005.

Toyota is forecasting its overall vehicle sales in Europe will rise 7% to 980,000 units in 2005 from 915,966 in 2004.

As important as the Prius might be, however, what will make the biggest difference for Toyota in Europe is its new diesel engine, due out this spring.

“We are going to bring new products and the most important thing for us is we are going to have a new diesel engine, which is coming in March (or) April this year,” [Arashima] said.

“A new state-of-the-art diesel engine will help us to increase sales.”