Toyota: Emerging markets account for 44% of Toyota's worldwide sales in 2011
Introducing Ethios, a new compact car, in India and Brazil; strengthening development...
The following is a summary of Toyota’s trends in emerging markets (markets other than Japan, the US and Europe) such as India, Brazil, Argentina, Thailand and China.
In an announcement made in May 2010 regarding the Toyota Global Production Restructuring Plan, Toyota declared it would increase local production in China, India and a few other fast growing markets to meet the local customers’ demand in a timely manner.
In December 2010, Toyota put on sale in India the newly-developed compact car, Etios, which is produced locally. Toyota also resumed the construction of the second plant in Brazil that had been delayed, and will start production in the second half of 2012 of a new compact car based on the Etios and redesigned for the Latin American markets.
Compact cars with a price tag ranging from 600,000 to 800,000 Yen, converted from rupee, form the main demand for cars in India. While avoiding competition in the specific price range, Toyota has set out to sell the Etios at prices starting at 496,000 rupee (approx. 928,000 Yen), less than half the price of the Corolla.
In Thailand and Argentina, Toyota reinforced its production capacity of the IMV (Innovative International Multi-purpose Vehicles) after which Toyota’s global capacity of IMV rose by 15% to 900,000 units.
In China, Toyota will set up a wholly-owned research and development company in addition to the existing development centers situated in joint venture companies there. The company also announced the new plant in Changchun, whose construction had been suspended and was resumed recently, will start operating in the first half of 2012. The company plans to start local production of EV/PHEV in 2012.
In December 2010, Toyota announced its production and sales plans for 2011 in which 2.06 million units out of the 7.7 million units planned for worldwide sales will be sold in Asia. As a result, the sales in emerging markets, other than the Japanese, American and European markets, will increase to 44% of Toyota’s global sales.