At a news conference at the Foreign Correspondents' Club in Tokyo, Mazda Motor Corp. CEO Takashi Yamanouchi says that the company aims to nearly double its annual sales to around 2 million vehicles in about five years, with sales additions from fast-growing markets like India and Brazil.
Japan's fifth-largest auto maker had zeroed in on a plan to increase global sales to 1.7 million vehicles by the business year ending in March 2016, up 43 percent from around 1.19 million vehicles in 2009.
However, Yamanouchi said Mazda expected to sell another 300,000 vehicles or so in Russia, India, Brazil and other growing markets.
Mazda has projected global vehicle sales of 1.32 million units in the year until next March. Yamanouchi's comment implies that Mazda plans to enter the Brazilian and Indian markets, where it currently sells no cars.
Mazda is now owned 3.5 percent by Ford Motor Co. after the U.S. automaker sold most of its stake in it in November 2010.
The Japanese manufacturer aims to survive fierce competition with a new series of fuel-efficient engines and transmissions to be rolled out on 80 percent of its vehicles by the 2015-2016 business year. [via autonews - sub. required]