Toyota Hits Record North American Production in 2003

Increase of Six Percent Brings Vehicle Production to 1.278 Million

ERLANGER, Ky., Jan. 9 -- Toyota announced today that the company produced 1,278,359 vehicles and 1,112,074 engines at its North America manufacturing facilities in 2003. Both were record levels for Toyota, which began North American production in 1985 and has steadily expended operations ever since.

Toyota, the fourth largest automaker in North America, currently has three vehicle assembly plants in the United States and one in Canada. In addition, two other vehicle plants are under construction - in Baja California, Mexico and San Antonio, Texas - and several of Toyota's North American engine and component plants are expanding.

"This past year was one of incredible growth for Toyota in our manufacturing operations," said Atsushi Niimi, president of Toyota Motor Manufacturing North America, Inc. . "As we expand, we will keep our focus on improving quality in every vehicle every day."

  Highlights of 2003 include:

   -- January - began production of all-new Sienna at Toyota Motor
      Manufacturing, Indiana, Inc.
   -- February - announced new pickup plant in San Antonio, TX
   -- March - announced new engine block plant in Jackson, TN
   -- May - V8 engine production began at Toyota Motor Manufacturing,
      Alabama, Inc.
   -- May - Toyota Motor Manufacturing, Alabama, Inc. and Toyota Motor
      Manufacturing, West Virginia, Inc. reach zero-landfill status
   -- May - TABC, Inc.  announced plans to assemble 4-cylinder engines for
      Tacoma
   -- June - Canadian Autoparts Toyota, Inc. announced 20% capacity
      expansion
   -- July - Toyota Motor Manufacturing, Alabama, Inc. announced expansion
      for additional 130,000 V-6 engines
   -- August - Toyota Motor Manufacturing de Baja California announced
      additional production and jobs and earlier production start
   -- September- First Lexus ever produced outside Japan rolled off the line
      at Toyota Motor Manufacturing Canada, Inc.
   -- November - Toyota Motor Manufacturing North America, Inc. announced
      $15 million expansion of Erlanger, KY campus

          Toyota North American Production 2003 CY

  Manufacturing Site                 Model        # Units

  Toyota Motor Manufacturing,
   Kentucky, Inc. (TMMK)             Avalon        49,610
                                     Camry        359,084
                                     Solara        29,732
                                     Total        438,426
  New United Motor Manufacturing,
   Inc. (NUMMI)                      Corolla      157,561
                                     Tacoma       161,566
                                     Voltz          1,733
                                     Total        320,860
                                     Vibe**        74,223
  Toyota Motor Manufacturing
   Canada, Inc. (TMMC)               Corolla      135,428
                                     Matrix        78,781
                                     RX 330        13,334
                                     Total        227,543
  Toyota Motor Manufacturing,
   Indiana, Inc. (TMMI)              Tundra       105,663
                                     Sequoia       66,671
                                     Sienna       119,196
                                     Total        291,530
  Total North American
   Production 2003 **                           1,278,359

  **Note: Totals do not include General Motors vehicles built at New United
  Motor Manufacturing, Inc. (NUMMI), a joint-venture between Toyota and
  General Motors in Fremont, CA.

      Toyota North American Engine Production 2003 CY

  Manufacturing Site                 Engine        # Units

  Toyota Motor Manufacturing,
   Kentucky, Inc. (TMMK)             4-cylinder    322,709
                                     V6            139,520
                                     Total Engine
                                      Production   462,229
  Toyota Motor Manufacturing,
   West Virginia, Inc. (TMMWV)       4-cylinder    225,402
                                     V6            171,808
                                     Total Engine
                                      Production   397,210
                                     Automatic
                                      Transmission 382,510
  Toyota Motor Manufacturing
   Canada, Inc. (TMMC)               4-cylinder
                                      (assembly)   200,317
                                     Total Engine
                                      Production   200,317
  Toyota Motor Manufacturing,
   Alabama, Inc. (TMMAL)             V8             52,318
                                     Total Engine
                                      Production    52,318
  Total North American Engine
   Production 2003                               1,112,074

In addition to the plants mentioned above, Bodine Aluminum, Inc., in Troy, Mo., casts aluminum parts such as cylinder heads, intake manifolds and engine blocks. TABC, Inc. in Long Beach, Calif., manufactures truck beds, catalytic converters, coated substrates and steering columns. Canadian Autoparts Toyota, Inc. in Delta, British Columbia produces aluminum wheels.

By 2006, Toyota will have the capacity to build 1.66 million cars and trucks a year and 1.29 million engines in North America. Toyota currently employs some 34,000 people throughout North America. The company's direct investment is nearly $14 billion with annual parts, materials, goods and services purchased from North American suppliers totaling over $20 billion. Toyota's North American-produced vehicles include the Avalon, Camry, Corolla, Matrix, Sienna, Solara, Sequoia, Tacoma, Tundra, and the Lexus RX 330.