The opening of the Toyota plant in St. Petersburg, December 21, 2007
Photo: Mikhail Razuvaev
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Toyota Tests Russian iQ
Toyota plans to begin assembly of a new budget model, the iQ, at its St. Petersburg plant. The new brand was premiered at the Frankfurt car show in September. Toyota's St. Petersburg plant opened in September and is now producing the Camry. Toyota Motor Europe chief Tadashi Arashima stated that the plant will produce either a $7000-version of the new model or one costing over $10,000. He did not specify the number of the new cars that would be produced.
Russia edged out Germany last year as Toyota's largest European market when 157,000 Toyotas were sold in Russia (a 63.5-percent increase). The company expects to sell 200,000 cars in Russia this year, and may export vehicles made in St. Petersburg to Brazil and India. Although the St. Petersburg plant's current capacity is 20,000 vehicles per year, it can be boosted to 200,000-300,000.
The iQ was designed for Japan and Europe. It has a sunroof and accommodates three adults and one child. Mass production will begin next year. It will sell for about ˆ13,000 in Europe. Observers note that the Volkswagen Polo, a comparable model made in Brazil, sells well in Russia. They predict problems for the iQ, however, if the company decides to place a price tag of over $10,000 on it, however.
www.kommersant.com
All the Article in Russian as of Jan. 14, 2008
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