Toyota to bring 8 compact car models tailored for emerging markets by 2015

Article by Christian A., on May 26, 2012

Toyota Motor Corp. will introduce eight compact vehicle models made specifically for emerging markets by 2015 in its effort to catch up with leading rivals General Motors Co., and Volkswagen Group, the company confirmed. Last year, Toyota lost its top spot as the bestselling brand in the world. Now, it is seeking to lower its dependence on the mature markets, specifically in Japan, North America and Europe.

Instead, it intends to focus more on emerging markets like India, Brazil and China, where rivals Hyundai Motor Co., GM and Volkswagen have taken the lead. The Japanese automaker is targeting to sell 50% of its automobiles in emerging markets by 2015, an increase from around 45% in 2011 % and 18.6% in 2000.

Yukitoshi Funo, vice president at Toyota, related that there are four or five vehicle manufacturers competing for the lead in terms of sales volumes in the emerging markets.  In addition to the Etios model launched in India in December 2010, Toyota intends to bring eight compact cars by 2015 with a combined annual sales target of at least 1 million automobiles in more than 100 countries during that period.

The forthcoming vehicles cars will be available at a price of as low as about 1 million yen or $12,600. These cars will be manufactured in local markets like Brazil, China and India. Furthermore, Toyota disclosed that it is targeting to procure 100% of the vehicle's components locally in order to reduce costs.

This action would need a stronger R&D function in those markets. By 2013, the annual production capacity in emerging markets will increase to 3.1 million vehicles from 2.38 million in 2010, matching the level in Japan, Toyota stated. [source: Autonews]

Topics: toyota, compact car

If you liked the article, share on:

Comments

Recommended

The first time Porsche revealed the Panamera Sport Turismo to the public was during the 2017 Geneva Motor Show earlier this year. And now it has already entered production, and...
by - July 27, 2017
Autocar has got some juicy rumours for us regarding a new McLaren hypercar. The British publication has inside sources claiming that a new model will be added to the Ultimate...
by - July 27, 2017
Ferrari has recently launched the New Power15 extended warranty program. The company developed this program in response to the notion that supercars are very expensive to maintain. Truth be told,...
by - July 27, 2017
The UK it seems is about to take the same road as its neighbouring country France by banning sales of petrol and diesel vehicles beginning 2040. As reported by The...
by - July 27, 2017
What has BMW been up to lately? The company recently announced that they are currently focusing on electrification, and so far, their new architecture will enable “electrification of every model...
by - July 26, 2017
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