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.May 12, 2004
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This Week:

• Porsche Releases Initial Details of All-New 911 Models for Model Year 2005

• Mercedes Car Group: Successful New Products and Record Demand for E-Class

• Production Ends At Historic Dearborn Assembly

• DaimlerChrysler AG and Hyundai Motor Company Announce Realignment of Strategic Alliance

• Toyota Announces Management Changes at Toyota Motor North America, Inc.

• New Volkswagen convertible with innovative roof system to be launched in 2006

• Honda Announces Major Investment in the Marysville Auto Plant

• Porsche(R) Names New Design Chief; Veteran Harm Lagaay to Retire

• Chrysler Group Announces Changes in Product Development

• BMW Group Sales Rise 10.3% In April

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Toyota Announces Management Changes at Toyota Motor North America, Inc.
 

Hideaki Otaka Will Succeed Toshiaki Taguchi as President and CEO of Toyota Motor North America, Inc. NEW YORK - Toshiaki (Tag) Taguchi, who has been President and CEO of Toyota Motor North America, Inc. for the past four years, will step down from his post in June and will return to Japan. His successor will be Hideaki (Harry) Otaka, who has spent nearly his entire career in international operations for Toyota Motor Corporation. Currently, Mr. Otaka is President and CEO of Delphys Inc., a subsidiary of Toyota Motor Corporation. Mr. Taguchi was appointed President and CEO of Toyota Motor North America, Inc., in January 2000. In this position, he has been responsible for enhancing the coordination, speed and productivity of Toyota's North American business operations. He served on the Board of Directors of Toyota Motor Corporation for nearly a decade. Currently, he is Senior Advisor to the Board of Toyota Motor Corporation.

Mr. Otaka joined Toyota Motor Corporation in 1965. His career has included sales, marketing and manufacturing planning assignments for the company's activities in the U.S., Europe, Africa, the Middle East, Southwest Asia and Oceania. He spent six years at Toyota Motor Sales, U.S.A. in the Los Angeles and Washington, DC offices. Mr. Otaka is a former member of Toyota Motor Corporation's Board of Directors. He has been President and CEO of Delphys Inc., a marketing and advertising company owned by Toyota and formerly named Nambokusha, Inc., since 1999.

(May 10, 2004)