Toyota boosts US manufacturing base

[Bakemono]

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Toyota Motor Corp., expanding its footprint in one of its hottest markets, reported Monday its North American plants turned out a record 1.56 million cars and trucks and nearly 1.3 million engines last year.

Toyota now accounts for just over 13% of the U.S. auto market, with sales last year topping 2.26 million vehicles, up 10.1% from 2004. For 2006, Toyota is predicting 5% sales growth in the U.S. market.
The company's strong gains have come at the expense of U.S. giants General Motors Corp.(GM), and Ford Motor Co.(F). In 2005, GM saw its domestic sales retreat 4% to 4.52 million vehicles while Ford sales fell 4.9% to 3.17 million.
Many industry analysts predict Toyota will overtake GM as the world's biggest car maker as soon as this year, a trend that makes Toyota's expansion in the U.S. manufacturing sector a more crucial part of the economy as it absorbs jobs being shed by Detroit.