Toyota 2008 Annual Report Download - page 44

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42 TOYOTA •Annual Report 2008 •
»Performance Overview
A substantial increase in regional
sales and production
Highlights
• Expansion of local production and
product lineups
• Improvement of revenue-
generating capabilities
increasingly important role in driving
Toyota’s growth. The expansion of
production capacity in Thailand also
contributed to increased IMV exports
to other regions.
Sales of IMV minivans and pickup
trucks, as well as the Camry, continued
to be strong. The Corolla, Avanza, and
VIOS also performed well. Supported
by robust sales, consolidated
production increased 27.3%, to 961
thousand vehicles.
* IMV: An abbreviation for Innovative International
Multipurpose Vehicle, manufactured using
an optimal procurement and production
system with key hubs in Asia, South Africa,
and Argentina that supply multipurpose
vehicles to more than 140 countries and regions.
Asian Markets
Although the automobile market in
Taiwan remained relatively stagnant
in fiscal 2008, the Indonesian market
underwent a recovery, and demand
rose steadily in China, which is fast
becoming one of the world’s most
In fiscal 2008, strong demand for the
IMV* series and the Yaris in Thailand
and Indonesia enabled consolidated
sales in Asia to rise dramatically,
reaching 956 thousand vehicles, and
underscoring the Asian market’s
»Market Conditions and
Regional Strategy
Increasing local production to
meet steadily growing demand
’03 ’04 ’05 ’06 ’07
0
500
750
250
+62.0%
499
+62.8%
446
CY
(Thousands of units)
Vehicle sales in China
Vehicle production in China
’04 ’05 ’06 ’07 ’08
0
1,000
1,500
500
+21.2%
956
+27.3%
961
FY
(Thousands of units)
Consolidated vehicle sales
Consolidated vehicle production
Consolidated Vehicle Sales and
Production in China
Consolidated Vehicle Sales and
Production in Asia
Hilux VIGO
Asia
Business Overview
Automotive Operations
Note: Fiscal years ended March 31 Note: Calendar years
Increasing our presence in Asian markets that are
rapidly growing in importance as stable revenue bases