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Toyota Motor Europe to become full ACEA Member from January 2008

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Joint ACEA/Toyota press release:

Venice, 8 June 2007

The General Assembly of ACEA, the European Automobile Manufacturers Association, has accepted the application of Toyota Motor Europe (TME) to become a full ACEA member. The company's membership will start in January 2008.

"We welcome Toyota Motor Europe in our midst and are convinced TME will make a valuable contribution to the work of our association", said Sergio Marchionne, President of ACEA and CEO of Fiat SpA. "ACEA and TME share the same challenges and concerns with regard to EU regulation and our sector's competitive strength. Together we will give even more vigorous input to the on-going process of improving the EU regulatory framework and the "better regulation" agenda of the European Commission."

"We are very proud to have been accepted as a full member of ACEA", said Tadashi Arashima, President of Toyota Motor Europe. "We now have an important presence in Europe and so joining the European automotive association was the next logical step. We look forward to working more closely with fellow members on the issues confronting the industry."

The European automotive industry is a key to the strength and competitiveness of Europe in terms of employment, fiscal revenue, external trade, research and innovation. Current priorities for the European automobile industry are a completion of the Internal Market including fiscal harmonisation and CO2-related motor vehicle and fuel taxes; reducing over-regulation and the side-effects of conflicting objectives of legislation; better promotion of R&D efforts and innovation policy instruments; global harmonisation of technical regulations and standards for motor vehicles; continuous development of efficient road infrastructure; better market access through multilateral and bilateral free trade agreements; and the adoption of an Integrated Approach to important societal issues such as road safety and CO2 emissions involving all relevant stakeholders.

Notes to Editors:
1) ACEA was established in 1991 in response to the increasing European integration and the consequent gradual shifting of government responsibility to Brussels. The automotive industry is one of the most regulated sectors in Europe and much of this regulation is very technical in nature. Vehicle manufacturers readily share their specialist knowledge with the EU institutions and other stakeholders to support effective and efficient policy making. ACEA also provides clear and factual information to the public-at-large on the automobile industry and its contribution to EU society.

2) The current ACEA members are BMW Group, DAF Trucks, DaimlerChrysler, FIAT, Ford of Europe, General Motors Europe, MAN Nutzfahrzeuge, Porsche, PSA Peugeot Citroën, Renault, Scania, Volkswagen and Volvo. They provide direct employment to more than 2.3 million people and support another 10 million jobs in related sectors. ACEA members yearly invest €20 billion in R&D, or 4% of turnover.

3) Toyota Motor Europe (TME) NV/SA oversees the European sales and marketing of Toyota and Lexus vehicles, parts and accessories, and Toyota's European manufacturing and R&D operations. Toyota directly and indirectly employs approximately 55,000 people in Europe and has invested over €6 billion since 1990. TME is already an observer in a number of ACEA working groups.