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Toyota Statement Regarding Reuters Story on Possible Third Brand

16 January 2001

Toyota Statement Regarding Reuters Story on Possible Third Brand

    TORRANCE, Calif., Jan. 16 Toyota Motor Sales, USA, Inc.
issued the following statement regarding a Reuters news report that Toyota was
considering a third U.S. brand to cater to young buyers:

    Toyota and Lexus, our two brands in the U.S., have enjoyed tremendous
success in the luxury and volume car markets.  Toyota is quite satisfied with
the buyer profiles of each sales division.
    As part of Toyota's ongoing corporate planning efforts, the company is
constantly evaluating future needs.  The importance of appealing to younger
buyers is a high priority.
    Toyota's genesis project successfully launched three youth-oriented
projects in 1999 (Celica, MR2 Spyder and ECHO).  The genesis project continues
to evolve, and helps guide future product and marketing plans aimed at younger
car buyers.  In anticipation of the launch of the Matrix crossover vehicle,
Toyota is considering ways to take the genesis effort to the next level,
including marketing a sub group of vehicles to specific buyers.
    However, there has been no consideration to introduce an additional dealer
network.