Global auto leader Toyota is planning a series of compact car launches in India as part of its global strategy for emerging nations including China, Brazil and Indonesia. According to Mr. Yukitoshi Funo Executive Vice-President Toyota, the company will also consider US and Europe if the new car products are met with favorable reviews from customers in those car markets. Mr. Funo states that the new cars will feature an ‘excitement’ factor.
The new car models will be launched by the year 2013 with the objective of increasing the company’s overall sales in the Indian market and strengthening its presence in the emerging markets aiming sales of 10,00,000 units by 2015.
With slowdown in sales in the developed markets such as US and Europe, the company is focusing on emerging markets to sustain growth and boost global sales. Further, it is also exploring new and potential car markets and expects the sales from emerging markets to contribute about 50 percent of the total sales.