Report: Toyota will outline a strategy for growth in emerging markets

Article by Christian Andrei, on March 8, 2011

Two unidentified sources familiar with Toyota Motor Corp.’s 10-year plan (which will be released on March 9, 2011) say that the carmaker will outline a strategy for growth in emerging markets.

The two sources said the carmaker intends to cut two vice-chairman positions and shrink its board to 17 or fewer members from 27 as part of the biggest management upheaval in eight years.

President Akio Toyoda will unveil the company’s "Global Vision 2020" plan to help increase sales after record recalls contributed to the world's largest carmaker becoming the only major automaker to post declining deliveries in the United States in 2010.

As part of Toyota’s focus on emerging markets, it added the Etios compact 2010 to its Indian lineup last December. The Etios will also be modified for sale in Thailand, China and Brazil. Toyota said that, excluding exports, it relies on North America for about 60 percent of its operating profit.

Executive Vice President Yukitoshi Funo refers to the Etios as the “21st Century Corolla,” citing the company’s bestselling compact model. Satoru Takada, an analyst at TIW Inc. in Tokyo, said the carmaker has introduced new models for emerging markets and that should be a big part of their mid-term strategy.

He added that the old strategy of taking a hit model from the U.S. or Japan to emerging markets could soon change. [via bloomberg]

Topics: toyota

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Those familiar with racing know that Marco Wittmann’s win during the 2016 Deutsche Tourenwagen Masters held last May was noteworthy as it was his second title in four seasons. In...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries