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Attaining Global Growth and Improved Efficiency

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Attaining Global Growth and Improved Efficiency Attaining global growth and improved efficiency Toyota Motor Corporation October 21, 2003 1 Cautionary Statement with Respect to Forward-Looking Statements This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro and the British pound; (iii) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies affecting Toyota’s automotive operations, particularly laws, regulations and policies relating to environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies affecting Toyota’s other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in the “Operating and Financial Review and Prospects” and “Information on the Company” sections and elsewhere in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. 2 Fujio Cho President Toyota Motor Corporation 3 Agenda Part Ⅰ TOYOTA NOW Global Manufacturing and Marketing in 2002 Part Ⅱ TOYOTA NEXT a. Sales Strategy – Regional Strategies: North America, Europe, Asia, China, and Japan b. Building Global Development and Optimum Production Systems c. Future Growth through Market Creation Part Ⅲ Financial Strategy 4 PartPartⅠⅠ TOYOTATOYOTA NOWNOW 5 Global Manufacturing and Marketing in 2002 Production and Sales Number of vehicles 6,550 (thousands of units) (thousands of units) 6,730 6,314 6,167 6,000 4,500 764 2,412 1,467 2,930 1,779 3,480 2,175 3,949 2,570 4,240 3,000 ～ ～ ～ ～ 1,500 ～ ～ CY92 CY98 CY00 CY02 Projections for Overseas production Overseas sales CY03 Domestic production Domestic sales * Total units including Toyota/Lexus, Daihatsu, and Hino brands 6 Global Manufacturing and Marketing in 2002 Overseas Production and Operating Income 2,175 (Thousands of units) Exchange rate (yen/dollar) 2,000 1,271 Overseas production volume (calendar year) *1 (Billions of yen) 1,000 131 yen/$ 122 yen/$ 500 ～ ～ ～ ～ ～ ～ 0 650 FY92 FY94 FY96 FY98 FY99 FY00 FY01 FY02 FY03 Operating income(US GAAP*2) *1. Output including Toyota, Daihatsu, and Hino brands *2. FY92-96 : Japan GAAP 7 PartPart ⅡⅡ TOYOTATOYOTA NEXTNEXT Attaining global growth and improved efficiency 8 a. Sales Strategy: North America Steadily expanding sales towards the 2 million target Number of vehicles (thousands(thousands ofof units)units) 2,000 2,000 1,500 1,000 Expanding local production 500 8.7 8.7 9.3 10.1 10.4 * 0 Target for Projection 1998 1999 2000 2001 2002 2003–2004 for 2005 Units manufactured in North America Units imported from Japan * Market share in the US (%) 9 a. Sales Strategy: North America Creating markets through new product launches The U.S. market : Number of vehicles (millions(millions ofof units)units) 15 Tundra Double Cab Lexus RX330 (scheduled launch: (from March 2003) fall 2003) 10 Commercial vehicle (light truck) market Scion Passenger vehicle market (from June 2003) 5 No. 1 inin 20022002 xA passenger Next-generation Prius vehicle sales (from October 2003) Corolla Camry xB 0 1990 2002 10 a. Sales Strategy: Europe Achieving 800 thousand sales target ahead of time Renewal of strategic core models completed European core models Corolla Yaris Number of vehicles (thousands(thousands ofof units)units) Avensis Market share (%) 800 800 4.5% 5.0 600 3.9% 4.0 3.4% 400 2.9% 2.9% 3.0 200 ～ ～ 0 2.0 1998 1999 2000 2001 2002 Target for 2005 Toyota sales units Market share 11 a. Sales Strategy: Europe Improve products (diesel-powered vehicles) - Expanding lineup for diesel-powered vehicles - Expanding local production of diesel engines - DPNR launch Number of vehicles (thousands(thousands ofof units)units) Diesel Engines 200 Rapid expansion of local production From Jan.03: TMUK 50,000 units TMMF 30,000 units 31%* From 2005: Poland 150,000 units 100 22% 16% ～ ～ 0 1998 2001 2002 DPNR/launch in 2003 DPNR：Diesel Particulate Sales units of diesel-powered vehicles ＊Diesel sales ratio - NOx Reduction system 12 a. Sales Strategy: Asia Establish a solid position as a top-brand in major markets → Expand faster than the market Number of vehicles (thousands(thousands ofof units)units) Year-on-year growth (%) 30 400 +26% 300 20 200 +16% 10 100 Market Passenger share: vehicles 22% ratio: 47% ～ ～ 0 0 Projection 1998 1999 2000 2001 2002 for 2005 Toyota sales units Year-on-year growth: market Year-on-year growth: Toyota * excluding China 13 a. Sales Strategy: China Manufacturing and marketing to be strengthened in response to market growth Luxury SUV Large & luxury Crown Land Cruiser/Prado Establish full product lineup Compact VIOS lineup Product Daihatsu Establish (compact) Corolla Toyota brand Aggressive introduction of models 50,000 units/Year Several hundred thousand 30,000 units/Year units/Year capacity 25,000 units/Year →115,000 units/Year Production 50, 000 units/Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 14 a. Sales Strategy: Japan Domestic market and Toyota sales Number of vehicles (thousands(thousands ofof units)units) Toyota’’s share: maintaining and Market share -levellevel overover 40%40% (%) expanding high 4,000 40 2,000 ～ ～ 0 20 1998 1999 2000 2001 2002 Projection for 2005 Total market excluding minivehicles Toyota’s share (%) 15 a. Sales Strategy: Japan Toyota Sales by Category (excluding minivehicles) Toyota’s share (overall) : January to September, 2003: 42.1 % (+0.1%*) (*changes year-on-year) 3 Box Large 76.5 & Luxury 78.6 CelsiorCelsior ～ Alphard 45.8 Minivan, Cab Wagon 57.2 Wish ～ Vitz 41.8 2 BOX 37.7 Market share (%) 30 40 50 60 70 80 Toyota’s share: for the year 2002 Toyota’s share: January to September, 2003 16 a. Sales Strategy: Japan Reorganization of sales channel and Lexus introduction - Lexus brand: New introduction - Toyota brand: 5 → 4 channels Price range Future positioning From August 2005, 180 dealers / 4 models Tradition Toyota dealers: Luxury vehicles Toyopet dealers: Medium-sized vehicles New Netz: Corolla dealers: Compact vehicles Develop new market segment (from spring of 2004) Advanced / originality Areas to be changed 17 b. Building Global Development and Optimum Production Systems Pursue optimum product lineups by region Core models Camry Corolla Yaris/Vitz Tacoma Previa/Estima Avensis Hilux Region-specific models 18 b. Building Global Development and Optimum Production Systems Research and development system: Global network through linkage between Japan (core technology) Toyota Technical Center/ Design Headquarters and regional bases (local needs) (Head Office) Japan Core technology TMEM R&D Group development ED2 (Design Center in France) Development Collaboration Toyota Technical Center in the US ★ Collaboration Higashifuji Technical Center Development Collaboration ★New R&D Centers ★ inin AsiaAsia andand AustraliaAustralia (Thailand(Thailand andand Australia)Australia) Development CALTY (Design Center in the US) 19 b. Building Global Development and Optimum Production Systems Domestic/overseas outputs Tianjin plant, Number of vehicles Chengdu China Number of vehicles plant, Polish (thousands(thousands ofof units)units) China plant West Virginia 6,730 plant, USA French plant Indiana 6,314 plant, USA 6,000 Canadian plant Kentucky plant expansion expansion, USA UK plant 2,175 2,570 Expanding Overseas1,779 production 4,500 764 1,051 1,346 1,467 Maintaining Domestic production 3,000 ～ 1,500 ～ ～ ～ ～ ～ ～ ～ ～ ～ 1992 1994 1996 1998 2000 2002 Projection For 2003 Domestic production Overseas production * Total output including Toyota/Lexus, Daihatsu and Hino brands 20 b. Building Global Development and Optimum Production Systems Strengthen production in major regions Present Plan (tens of thousands of units) < North America > < Europe > < China > 148 166 50 71 5 25 Production in cooperation with - Capacity expansion through the China FAW Group first 3 work-shifts in the UK and New factory in Texas (from the fall of 2003) French factories (from 2006) - JV with PSA Peugeot (from 2005) ＋ ＋ Local production expansion of engines - Start of production of TMMAL engines Diesel-powered engine (from April 2003) and capacity
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