New Delhi, May 25: Toyota Motor Corporation expects emerging markets such as India to contribute 50 per cent to its global sales and is betting on the small cars it will roll out over the next few years to achieve the target.
Encouraged by the response to the Etios series launched in India in 2010, the Japanese car maker wants to shift focus to such growth markets and gradually reduce its dependence on North America, Europe and Japan.
The company sells more than 3 million vehicles a year in India, China and Brazil, which make up 45 per cent of its global sales of 7.1 million units.
As part of its global growth strategy, Toyota "plans to introduce eight compact cars by 2015, targeting a combined annual sales of more than 1 million vehicles, starting with the Etios models that went on sale in India in 2010", executive vice-president Yukitoshi Funo said in Tokyo today.
Toyota Kirloskar Motors, the Indian joint venture of the Japanese auto maker, said it planned to ramp up the production capacity of the Etios models to 2,10,000 units from 1,20,000 units by early 2013.
Toyota Kirloskar's sales showed a growth of 49 per cent at 14,378 units in April, helped by the sales of the Etios models at 5,624 units.
The auto maker is also exporting the Etios to global markets. The firm shipped its first consignment to South Africa in April and plans to export 20,000 units annually.
Toyota plans to expand its dealerships in India to 220 by early next year from 175 outlets. It is also looking at improving its reach in semi- urban and rural areas by setting up 25 exclusive outlets in tier II and III cities this year.
"This is a small yet very important milestone that will place TKM on a higher pedestal in the global operations of Toyota," Sandeep Singh, deputy managing director (marketing) of Toyota Kirloskar Motors, said.
The company is aiming to take the localisation level of the Etios to 90 per cent in 2013 from 70 per cent.
