Toyota Motor Corp. plans to begin selling houses in the United States primarily to Japanese residents and Toyota group workers, company sources said Monday.
Toyota will also promote homes as company houses for Japanese businesses operating in the U.S., the sources said.
Sales will begin following market research to be conducted mainly on the West Coast during the first half of the year.
Toyota plans to offer homes for 200,000 yen to 250,000 yen per 3.3 sq. meters, nearly half the price of homes sold in Japan, made possible through local procurement of materials.
The automaker will market homes through its dealerships and in cooperation with local real estate developers. Toyota's domestic housing operation is midsize, selling more than 3,000 homes in 2001.