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Toyota Hikes 2006 Prices, Focuses on Hybrids |
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July 11, 2005
Toyota is trying to focus attention away from its success in the marketplace and onto the company's environmental efforts. "Our main mission as a company is to contribute to a better society," President Katsuaki Watanabe told a news conference. Nevertheless, Watanabe's comments come at a time when Toyota and other Asian automakers are luring customers away from General Motors and Ford Motor Co. As Toyota profits from rising sales in the United States and other overseas markets, Watanabe said its second task was to ensure it was contributing to each country's social needs, such as by offering employment through increased local production. Asked to comment on the apparent contradiction between Toyota's drive to offer "green" vehicles and the addition of less fuel-efficient products, Watanabe said only that the automaker was developing cleaner versions of conventional gasoline engines. Japan's top automaker leads the industry in the development of next-generation vehicle technology such as gasoline-electric hybrids, and expects to spend 770 billion yen on research and development this year. The maker of the popular Prius hybrid sedan has said it aims to sell 1 million hybrid vehicles a year "as soon as possible." Watanabe declined to venture a guess on when that might be, saying only that Toyota's overall sales may be around 10 million units at that time. On hydrogen-powered fuel cell vehicles, Watanabe said he hoped to reach an agreement soon with General Motors on how to cooperate in the field to enable commercialization of the zero-emission cars. Here are the price increases Toyota has announced:
The Lexus LS 430 is increasing $300 to $57,175, effective as the 2006 models reach showrooms.
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