TOYOTA SAYS IT ONLY STUDYING LUXURY UNIT PLANS
Toyota Motor Co's <TOYO.T> U.S. sales
subsidiary said it has been studying the possibility of forming
a new division to market upscale cars, but denied a published
report that it would announce a startup decision this year.
    Toyota spokesman Jerry Giaquinta told Reuters: "All we're
saying at this point is we'be been studying the luxury,
performance segment and no final decision has been made on
whether to enter it or which or several options to follow."
    The trade paper Automotive News reported in this week's
edition that Toyota will announce such a  division in a move
similar to rival Honda Motor Co's <HMC> Acura car division.
    The Toyota spokesman said, "The Automotive News article is
based on speculative assumptions."
    The paper said Toyota has already identified 100 key
dealers who would be offered the "unnamed new franchise" that
would open in the 1989 model year with "three
luxury-performance car lines."
    It also said the new Toyota luxury line would have prices
likely to start arpund 16,000 dlrs and going to the
"high-20,000-dlr range" to appeal to buyers of European and
American luxury buyers.
 Reuter
