Toyota to launch 8 new compact car models in the emerging markets like India

Saturday 26 May 2012, 10:04 AM by

The Japanese auto giant Toyota said on Friday that it will be rolling-out as many as 8 new car models in the emerging markets like India. In the price segment of sub $12,500, the new Toyota compact cars will be aimed at increasing the company’s market share in the global market.

The firm is looking forward to sell over 1 million units of these new car models in the market by year 2015, which will be produced at the company’s facilities in the countries like Thailand, Indonesia, India and Brazil.

Speaking to the reporters in Tokyo, Toyota executive vice-president Yukitoshi Funo said, "We don't sell cars priced at 500,000 yen."He added, "If customers in the United States or Europe like them, I will flexibly think about it (selling them in these markets)."

The sales figures of company’s mass segment Etios series of cars have recently crossed the crucial mark of 1 lakh units in the Indian market. The company is looking forward to account over 50 percent of its global sales figures from emerging markets, from the current figure of 45 percent.

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