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Auto Flood In Europe

Toyota Motor wants to build another assembly plant in Europe after increasing sales faster than expected.

The Japanese carmaker needs to add to its European capacity as it is reaching the limit of capacity from its three existing European plants.

It now expects to reach by 2004 its target of doubling European vehicle sales to 800,000. Rises beyond 2004 would require importing more than 40 per cent of sales without extra production.

However, the company has not chosen the exact location yet, perhaps increasing output at existing plants in the UK, France and Turkey by adding Saturday shifts will be used.

Toyota has an extra 100,000 units planned from its small-car joint venture with PSA Peugeot Citroлn, in the Czech Republic.But this is in addition to existing targets.

The company will shortly set a new target for European sales although it?s not clear yet whether it would be above the 1m mark.