Toyota 2006 Annual Report Download - page 40

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38
China: Operational Highlights
2005 October
Guangqi Toyota Engine Co., Ltd., announced production capacity increase
Tianjin FAW Toyota Motor Co., Ltd., began production of the REIZ at second plant
November Guangqi Toyota Engine Co., Ltd., began production of the AZ engines
December
Sichuan FAW Toyota Motor Co., Ltd., began production of the Prius in Changchun
2006 May Guangzhou Toyota Motor Co., Ltd., began production of the Camry
Toyota will accelerate growth on a global scale through stepped-up
operations in the rapidly developing automobile sectors of newly
industrializing countries in such regions as Asia.
Market Conditions
Advance of global motorization
grows markets
The automotive market in Asia
remained favorable, fueled by vigor-
ous demand in China and Thailand.
China is developing into one of the
world’s major vehicle manufactur-
ing nations. In Other Regions, solid
demand in the markets of Central
and South America and Africa
demonstrated that the global auto
market continues to grow.
Performance Overview
Vehicle production and sales up
sharply due to localization
Buoyed by heavy demand for vehi-
cles in markets worldwide, consoli-
dated vehicle sales in Asia and in
Other Regions posted significant
increases. Vehicle production also
rose markedly due to the rollout of
the IMV project in Asia and higher
production volumes in China and
Africa.
IMV Strategy
Speed up development of global
project in readiness for increased
demand
With production centered on three
hubs—the ASEAN region, Argentina,
and South Africa—the IMV project
seeks to establish an optimized
international procurement and pro-
duction system that provides multi-
purpose vehicles to more than 140
countries and regions worldwide.
Robust local sales and exports
reflected markets’ enthusiastic reac-
tion to the project’s dedication to
“global best” products.
Anticipating increased demand,
Toyota is already constructing a
new plant in Thailand. We have
also significantly increased produc-
tion capacity in South Africa. Our
Business Overview
600
400
200
1,000
800
’02 ’03 ’04 ’05 ’06
FY
Consolidated Vehicle Sales
and Production in Asia
(Thousands of units)
Consolidated vehicle sales
Consolidated production
0
+5.7%
+29.0%
880
836
800
600
400
200
1,200
1,000
’02 ’03 ’04 ’05 ’06
FY
Consolidated Vehicle Sales
and Production in
Other Regions
(Thousands of units)
Consolidated vehicle sales
Consolidated production
0
+22.0%
+23.3%
1,151
367
Automotive Operations Asia and
Other Regions