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Toyota's Name Not For Sale to Republic

12 August 1997

Toyota's Name Not For Sale to Republic

    TORRANCE, Calif., Aug. 12 -- The following statement is
attributable to Jim Press, senior vice president, Toyota Motor Sales. U.S.A.,
Inc., and general manager, Lexus Division, in response to legal actions taken
today by Republic Industries in Alabama and by Appleway Toyota in Spokane,
Wash.
    "Toyota's name is not for sale.  Dealers can sell property but Republic
can't just buy Toyota's good name.
    "Republic's actions are equivalent to a hostile takeover attempt of our
dealerships.  We cannot stand by and let Republic turn hometown Toyota and
Lexus dealerships into part of a mega-store conglomerate.  We are protecting
locally owned and operated businesses to assure maximum choice and convenience
for customers.  That's the American way.
    "We will continue to keep customers, dealers, and the public informed of
this attempt to take over a major piece of our business which we have built
together with our dealers and our customers for some 40 years in America.
    "We and Toyota dealers have proven that we give customers good value and
service built on longevity.  Republic has made claims that it will
revolutionize the car business.  All we've seen them do is gobble up
dealerships."

SOURCE  Toyota Motor Sales. U.S.A., Inc.