The manufacturer said the move would allow it to be 'closer to its customers and to better understand their needs and expectations'.
It will take over distribution of Toyota and Lexus models in Spain from October. Until then, Toyota Espana will remain as its exclusive distributor.
'An important part of Toyota's growth strategy in Europe is to be close to dealers and customers, with the aim of bridging the gap between the manufacturer and the final customer. To achieve that, Toyota relies on local knowledge and expertise,' Toyota said.
'In view of its ambitious target to reach a 5% market share in Europe by 2005, and given the importance of the Spanish market, Toyota has decided that a more direct involvement in Spain was required. Currently Germany, Italy, UK and France are already served by NMSCs (National marketing and Sales Companies) that are 100% owned by Toyota.'
Toyota said that since the early 1990s it had made 'substantial investments' in Europe, totalling more than 4 billion Euro to date.
These include production facilities in the France, Poland, Turkey and the UK, France, Turkey, Poland and, as previously reported in Fleet News Europe, the Czech Republic, together with PSA Peugeot Citroën.
He will report directly to Thierry Dombreval, senior vice-president for all sales and marketing for Toyota and Lexus in Europe.