Toyota to Boost North American Production to 1.45 million units

Tokyo―TOYOTA MOTOR CORPORATION (TMC), demonstrating the importance it places on its "built where sold" commitment, announced today a plan to increase annual production capacity in North America by 200,000 units to approximately 1.45 million vehicles a year in the near future.

As part of this plan, Toyota will increase production capacity at Toyota Motor Manufacturing, Indiana, Inc. (TMMI) by roughly 150,000 units. The TMMI increase calls for an investment of approximately 800 million U.S. dollars and will create nearly 2,000 jobs.

The expansion plan reflects the manufacturer's healthy market presence in the upbeat U.S. car market.

Toyota also announced it was strengthening the organization of Toyota Motor North America, Inc.(TMA) to improve the efficiency and coordination of Toyota's North American business operations. Mr. Toshiaki Taguchi, currently Senior Managing Director of TMC, will assume the resident post of TMA president on Jan.1, 2000.