GENEVA, March 4 Toyota Motor Corp's
automotive business in Europe will be profitable during its
current fiscal year for the first time since 2007, Didier Leroy,
the head of the Japanese automaker's European operations, said
The company believes its car business will continue to be
profitable during its fiscal 2013 year, buoyed by new models and
the growing popularity of hybrids in Europe, Leroy said during a
media roundtable a day before the opening of the Geneva car
Toyota's fiscal 2012 ends in March.
Hybrids will account for at least 17 percent of its sales in
Europe this year, he said, up from 13 percent in 2012.
Analysts said the weak yen is now allowing the company to
offer higher incentives on its models, while still maintaining a
good profit margin. Leroy said the automaker is enjoying the
benefits of the weak yen, but that this is not a part of the
automaker's long-term strategy.
"We don't want to build our business model on the currency
situation," he told reporters.