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.November 03, 2004
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This Week:

• All-new 2005 Chrysler 300 Wins "Editors' Most Significant Vehicle of the Year" Award from Edmunds.com

• Jaguar Unveils Bonspeed® X-TYPE CONCEPT At SEMA SHOW

• Strong third quarter for the BMW Group

• Honda Names All-New 4-Door 4WD Truck 'Ridgeline'

• GM, SAIC to Pursue Joint Development of Clean Vehicles in China

• Toyota Announces Record Semi-Annual Results

• Mercury Mariner Builds On Design Appeal With SEMA "Urban Edition" Concept

• Nissan Net Income Rises to 238.8 Billion Yen in FY04 First Half

• DaimlerChrysler AG Receives Approval for Feasibility-Plans to Produce Mercedes-Benz Passenger Cars and Vans in China

• BMW Unveils Four New Miniature Art Cars Modeled From the Original Racing Art Cars By Chia, Nelson, Penck and Stella

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Toyota Announces Record Semi-Annual Results

Increase in Net Revenues, Operating Income and Net Income

Tokyo, Japan - Toyota Motor Corporation (TMC) today announced its consolidated and unconsolidated operating results for the six months ended September 30, 2004.

On a consolidated basis, net revenues for the first six months totaled 9.0 trillion yen, an increase of 9.7 percent compared to the corresponding period of the previous fiscal year. Operating income increased 12.8 percent to 866.2 billion yen, while income before income taxes, minority interest and equity earnings of affiliated companies was up 12.5 percent to 913.2 billion yen. Net income climbed 11.4 percent to 584.0 billion yen from the six month period ended September 30, 2003. All of these figures marked record highs, with net revenues and operating income for the first six months increasing year-over-year for the fifth consecutive term.

Positive contributions to operating income of 330.0 billion yen, which derive from marketing and cost reduction efforts, offset the impact from unfavorable foreign exchange rates of 120.0 billion yen and increased R&D and other expenses of 111.5 billion yen.

Unconsolidated net sales reached 4.4 trillion yen, and operating income totaled 392.3 billion yen. Net income for the first six months was 263.7 billion yen.

TMC also announced a first-half cash dividend of twenty-five yen for the six months ended September 30, 2004, an increase of five yen per share compared with the same period last year.

Commenting on the results, TMC Executive Vice President Ryuji Araki said, "Our ongoing efforts to introduce products that meet individual customer needs, as well as the optimization of our production organization worldwide, allowed us to grow and improve efficiency in the first half."

Consolidated sales reached a record high of 3.56 million vehicles, an increase of 397 thousand vehicles compared to the corresponding period of the previous fiscal year.

In Japan, despite unfavorable market conditions, the market share of Toyota brand vehicles (excluding minivehicles) rose to 44.6 percent, a 2.1 percent increase over the same period last year. Vehicle sales increased by twenty-five thousand vehicles, to 1.1 million vehicles, supported by the introduction of new products such as the Crown Majesta, PASSO, BOON, and Porte.

Sales in North America reached 1.12 million vehicles, an increase of 121 thousand vehicles due to the continued favorable sales of Prius, Sienna, Lexus RX330 and the Scion product line in the United States, which was expanded nationwide in June 2004. Market share in the United States reached 12.1 percent, which is a new record.

In Europe, Toyota's "core models," Avensis, Corolla, and Yaris, continued to perform well, along with the Lexus RX300 and RAV4. As a result, sales increased by thirty-five thousand vehicles to 476 thousand vehicles.

Sales in other regions including Asia and Africa reached 859 thousand vehicles, an increase of 33.5 percent, or 216 thousand vehicles. In addition, the IMV project was started successfully in Thailand and Indonesia, with orders currently exceeding projected vehicle sales.

Araki concluded by commenting on the consolidated profit outlook for the fiscal year ending March 31, 2005. "We will continue our marketing and cost reduction efforts and work hard to maintain the profit levels of the fiscal year ended March 2004."

(Nov. 1, 2004)