Toyota European Sales Projected to Increase for 2014
Toyota European sales are expected to increase to more than 865,000 vehicles, up from the previous year’s number of 847,530 due to the popularity of the brand’s hybrid models and the slowly recovering car market.
Didier Leroy, the head of Toyota’s European operations, said that Toyota’s market share in Europe is will more likely than not grow from 2013’s 4.7 percent. Target sales in Europe are still set at 1 million by 2015, which the Japanese carmaker hopes to reach in a profitable way.
“We will not grow just for volume,” said Leroy last month. “If I can achieve profitable growth by pushing to 1 million, I will.”
With operating profit already up 56 percent in the first nine months of the financial year, Leroy expects that Toyota’s profitability in Europe will continue to grow, though the Russian ruble and Turkish lira, which are both weak currencies at the moment, will impact European operations in a negative way.
“Everyone agrees that the second half of 2013 was already better and 2014 will continue the same trend,” Leroy said. “But it will be a very, very slow recovery.”
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