Toyota Motor Europe Corporate Site Self Reliance with Focus on Core Models

Ludo Vandervelden Senior Vice-President, Toyota Motor Europe

Self Reliance with Focus on Core Models

"We need to put in place strategies and actions to adapt to ever-changing market conditions. Flexibility in the development and production of our vehicles in order to satisfy customer needs will become a significant area of competitive advantage. Our top priority must be on rebuilding our customers’ trust. Long-term trust is more important than short-term profits. We will pursue mutual growth with our business partners based on mutual trust.”

Our Results

Toyota’s market share was 4.9% in CY09, which is 0.4% lower than in CY08.

Consolidated Financial Results for Europe (in million Euro)	FY05	FY06	FY07	FY08	FY09
Net Revenues	19,764	23,615	24,651	20,925	16,390
Operating Expenses	19,083	22,699	23,777	21,919	16,641
Operating Income	681	916	874	(995)	(252)
Assets	17,908	19,448	19,294	16,143	15,733

Source: TMC Annual Results - Segment Information

In FY09, our net revenues in Europe decreased by 22% from FY08 to €16,390 million as a result of both reduced sales and vehicle unit production.

However, our operating loss was €252 million in FY09 compared to €995 million in FY08. This was mainly due to cost reduction efforts in all areas.

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