Toyota unveiled today its new business plan and announced that it will remove its head of North America from a downsized board and Canada chief Ray Tanguay will become its highest non-Japanese executive. Moreover, Yoshi Inaba will continue to lead Toyota North America and Toyota Motor Sales U.S.A. but he will lose the board seat.
Canada chief Ray Tanguay will move upwards to the newly created position of senior managing officer on April 1. With this new business plan, Toyota wants to double its operating profit by 2015, same year when Volkswagen wants to become world’s largest car manufacturer.
What is more interesting is that North America will become the global center of development for mid-sized vehicles such as the Camry sedan, says Autonews.
"For the Camry and other vehicle series, we plan for North America to become a global center responsible for r&d and production as well as exports," said President Akio Toyota.
Still, Toyota has other goals to be achieved by 2015. According to the manufacturer, the operating profit needs to double by 2015 to at least 1 trillion yen ($12.2 billion), while annual sales of Toyota and Lexus needs to reach 9 million target, from 7.53 million this year.
Moreover, Toyota must deliver sustainable profit margins of 5 percent and expand emerging market business to account for half of global sales, from 40 percent. Last but not least, Toyota has to generate 15 percent of global sales from China, the world's largest auto market.