Toyota Aims at New Emerging Markets

Toyota Dealership 1 photo
Photo: Toyota
As some Asian countries are growing economically and their consumers can afford buying new cars, Toyota seeks to expand its business in the regions.
The Japanese automaker target increased sales in emerging markets from 3.7 million vehicles in 2012 to 5 million in the future.

“Compared with North America, Europe or Japan, where buyers are mostly replacement buyers, it’s mostly first-time buyers in emerging markets,” said executive vice president in charge of business in emerging markets Yasumori Ihara. “It’s where the future growth is.”

Toyota and other manufacturers are taking on markets in countries as China, Myanmar and India. Toyota’s sales registered 9.75 million units in 2012, up 22.6 percent from 2011, predicting a record 10 million units in the future, after conquering newly emerged markets.

Read the full story at The Japan Times
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