Toyota making eight new models for emerging markets

Toyota said Friday it will roll out a number of new compact cars priced around $12,500 in developing nations, targeting sales of more than one million of the models annually in emerging markets by 2015.

Japan's biggest automaker said it would make eight new cars at plants in Thailand, Indonesia, India and Brazil, priced at "about 1.0 million yen ($12,500) or more."

"We don't sell cars priced at 500,000 yen," Toyota executive vice-president Yukitoshi Funo told reporters at its Tokyo headquarters.

While the new models are squarely aimed at emerging nations, including China, Indonesia and Brazil, "if customers in the United States or Europe like them, I will flexibly think about (selling them there)," Funo added.

In 2010, the firm launched its Etios compact to the Indian market with a base price of about $10,000, still far higher than domestic rivals such as Tata Motors, whose Nano sells for as little as $2,900.

Total sales of Etios have surpassed 100,000 vehicles in India since its debut, the company said Friday.

Etios is part of a broader plan to see half of Toyota's worldwide vehicle sales come from emerging markets, up from 45 percent in 2011, as global automakers rush to emerging nations amid stuttering sales in their developed markets.

The automaker, which includes the brands Toyota, Lexus, Daihatsu and Hino sold 7.35 million vehicles globally in the year to March.

Funo offered few details about the new Toyota models, but said they will have an "excitement" factor.

"Cars need to have a factor of excitement -- when a father buys a car, he must draw respect from his family who should say 'Daddy, well done,' and the family should enjoy going on a picnic on a weekend in that car," he said.

Separately, Funo said the market in Myanmar was "too small" at the moment, but added that Toyota was keeping its eye on the nation as it adopts a string of democratic reforms, and swings opens its doors to business.

"We would like to observe the pace of growth in the market in a country with a positive outlook," he added.

Toyota regained its position as the world's number one automaker in the first quarter, stealing back the lead from US giant General Motors, according to manufacturers' figures.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Indonesia informs convicts of execution, Frenchman excluded
    Indonesia informs convicts of execution, Frenchman excluded

    Indonesia said Saturday it has officially notified eight foreign drug convicts that they will be executed, but a Frenchman was granted a temporary reprieve after Paris stepped up pressure on Jakarta. The eight -- from Australia, Brazil, Nigeria and the Philippines -- have been transported to the high-security prison island of Nusakambangan where they will face the firing squad along with an Indonesian prisoner, despite strident international criticism. "Today, just now, we just finished …

  • Double Celebration
    Double Celebration

    Ropali Corporation, one of the top multi-brand motorcycle dealers in the Philippines, now holds two Guinness World Records. In the span of four days, Ropali Corporation broke two records, namely: The Largest Parade of Motorcycles with Sidecars and The Largest Simultaneous Motorcycle Burnout. As such, it also became the first motorcycle dealer in the Philippines to become a two-time Guinness World Record holder. The record for The Largest Parade of Motorcycles with Sidecars was previously …

  • United States seeks access to Philippine bases as part of Asia pivot
    United States seeks access to Philippine bases as part of Asia pivot

    The United States has asked for access to Philippine military bases in eight locations to rotate troops, aircraft, and ships as Washington shifts its forces to Asia and as China expands its military presence in the South China Sea. U.S. Defense Secretary Ash Carter, in a speech in Arizona, has outlined Washington's next phase in its Asia "pivot", deploying its most sophisticated destroyers, bombers and fighters to the region. The Asia "pivot" has already seen U.S. Marines rotating through the …

  • China's island-building to loom large at SE Asia summit
    China's island-building to loom large at SE Asia summit

    China's creation of new island footholds in contested seas will hover over a Southeast Asian summit that has become an annual test of the region's nerve in standing up to its massive neighbour. The South China Sea hot potato drops this year into Malaysia's lap as the rotating chair of the 10 member Association of Southeast Asian Nations (ASEAN) and host of Monday's meeting. ASEAN states Vietnam, the Philippines, Malaysia and Brunei claim parts of the strategic South China Sea, but Beijing …

  • Philippines, China trade accusations over sea threats

    MANILA, Philippines (AP) — The Philippines accused China of aggressive maneuvers against its reconnaissance plane and fishermen in disputed seas where Beijing has stepped up construction of artificial islands, but China reiterated its claim on the strategic waterways. …

  • Indonesia orders execution of Mary Jane, 9 others
    Indonesia orders execution of Mary Jane, 9 others

    Indonesia has ordered preparations for the execution of 10 drug convicts, including Filipina Mary Jane Veloso, as the Philippine government filed yesterday a second appeal for judicial review of the case to save the maid from death by firing squad. The Attorney General’s Office (AGO) of Indonesia released an official letter dated April 23, instructing prosecutors to prepare for the execution of 10 convicts, the Jakarta Post reported yesterday. The execution would be conducted after the …

  • Noy to visit Canada, Japan
    Noy to visit Canada, Japan

    President Aquino will embark on a state visit to Canada in May and Japan in June to meet with his counterparts and promote Philippine interests. Deputy presidential spokesperson Abigail Valte said Aquino accepted the invitation from Canadian Governor General David Johnston to make a state visit to Canada from May 7 to 9. Tied to this trip is the President’s one-day working visit to the United States to meet with potential investors and with the local Filipino community in Chicago, Valte …

  • Business groups back K to 12 program
    Business groups back K to 12 program

    The government’s K to 12 program adding two more years to basic education received support from various business groups yesterday. However, they urged relevant government agencies to deal with issues regarding the implementation of Republic Act 10533, the Enhanced Basic Education Act or K-12 Law. In a statement, business groups led by the Philippine Business for Education (PBEd) said RA 10533 is a milestone piece of legislation that intends to bring the Philippines up to par with the rest of …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options