The Detroit News. The Munich-based carmaker sold Rover last May, ending years of losses, and boosted profits because of the high prices its luxury models command.
Analysts expect it to perform better than rivals as the overall car market sags.
The Japanese company also plans to more than double annual output at the Deeside, Wales plant to 400,000 engines, up from 185,000 units it expects to make there this year, Toyota said in a statement. Toyota aims to raise its European market share to 5 percent by 2005, from 3.6 percent now, and boosting diesel engine output would help meet that goal. Kia, a subsidiary of Hyundai Motor, starting April 2 will use the largest South Korean automaker's Illinois center to supply parts to 126 dealers in the Midwest, the companies said. Sharing the parts centers will reduce shipping and overhead costs and cut the time it takes for dealers to get replacement parts, the companies said. Detroit News staff reports and wire services.