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Production and economic performance<br />
were impacted by the worldwide<br />
economic recession, which began in<br />
FY08 and extended through FY09. In response<br />
<strong>to</strong> the severe business climate, TSAM and local<br />
dealers worked hard <strong>to</strong> deliver as many vehicles<br />
as possible <strong>to</strong> cus<strong>to</strong>mers, as well as making<br />
continuous, concerted cost-reduction efforts.<br />
Due <strong>to</strong> the economic downturn there was an<br />
embargo on capital expenditure and therefore<br />
capital expenditure was lower in FY09.<br />
Economic Aspects<br />
Vehicle production dropped from 184 087 in FY08 <strong>to</strong> 105 079 in FY09.<br />
Table 33<br />
FY08 FY09<br />
R’000 R’000<br />
Revenue 41 222 468 28 574 954<br />
Total assets 16 143 570 13 694 419<br />
Capital expenditure 620 740 188 534<br />
Market share (%) 26.4% 25.2%<br />
Vehicle production and sales<br />
During the reporting period, vehicle production<br />
dropped from 184 087 units <strong>to</strong> 105 079 units,<br />
and vehicle sales dropped from 241 929 units<br />
No. of vehicles produced<br />
200 000<br />
180 000<br />
160 000<br />
140 000<br />
120 000<br />
100 000<br />
80 000<br />
60 000<br />
40 000<br />
20 000<br />
0<br />
148 160<br />
Vehicle production<br />
151 842<br />
184 087<br />
105 079<br />
FY06 FY07 FY08 FY09<br />
ECONOMIC ASPECTS<br />
<strong>to</strong> 141 391 units. This was a consequence of<br />
the global economic recession.<br />
300 000<br />
250 000<br />
200 000<br />
150 000<br />
100 000<br />
Figure 60 Figure 61<br />
No. of vehicles sold<br />
50 000<br />
0<br />
208 860<br />
Vehicle sales<br />
220 065<br />
241 929<br />
141 391<br />
FY06 FY07 FY08 FY09<br />
<strong>Toyota</strong> South Africa Mo<strong>to</strong>rs Sustainability Report 2010 55