Toyota may build new North American plant - Nikkei

TOKYO, Sept 7 Reuters reported that Toyota is considering building a new assembly plant in North America in 2004 or later, the Nihon Keizai Shimbun newspaper (Nikkei) said on Saturday.

Toyota's performance in the United States has been robust this year due to healthy sales of new vehicles, such as its remodelled Camry and the Highlander sports utility vehicle.

Toyota President Fujio Cho was quoted as telling the Nikkei: "A new assembly plant will become necessary."

He declined to comment further, but the Nikkei said it appeared possible that the new plant would focus on sports utility vehicles and trucks.

Company officials were not immediately available to confirm the report.

The Nikkei said that because Toyota was set to open a plant to make engines in the United States next year, the new plant would most likely open in 2004 or later.

If Toyota were to open another assembly plant, it would be the fifth such plant in North America.

Toyota in August reported a powerful jump in profits for the first quarter of the fiscal year, with consolidated operating profit for April-June climbing 35.4 percent from a year earlier to 394.52 billion yen ($3.34 billion).

Key to this was a jump in U.S. sales, along with a softer yen.