Recently, Toyota announced plans that the company would begin to manufacture eight new compact car models for the year 2015. The company says it is an attempt to keep up with other companies who are offering compact cars throughout the world, like VW and GM. One of the reasons Toyota is taking this step is to help reduce their dependence on the North American, European and Japanese markets. Instead, they plan on using these new compact cars to grow their brand in emerging markets like China, India and Brazil. These new compact cars will feature unique wheel and tire packages, and can be outfitted with custom rims from ruff racing rims or Fuel Wheels.
“In emerging market, there are four or five automakers vying to take the lead in sales volumes”, said Toyota Executive Vice President Yukitoshi Funo, “Particularly in the Southeast Asian region, Volkswagen and others are looking to challenge our lead so we can’t be resting on our laurels.” The goal for Toyota is to sell half of all its vehicles in these new markets by the year 2015. This would represent an increase of 45% from the previous year, making it one of the most dramatic shifts in strategy that the company has ever done.
In an interesting move, Toyota is planning on manufacturing nearly all of their new compact models in the regions in which they will be sold. They are doing this as a way of lowering costs for manufacturing. By building these cars in China, Brazil, and India they will help create jobs and inspire people in these countries to want to own one of the new, compact vehicles. The price of the new models will be around one million yen, or $12,600. Toyota also plans to open new research and development headquarters in these regions so that they can come up with more economical ways to produce these compact cars in the countries they will be sold in.
“We want to beef up our presence in segments where we can be competitive. There are not many options for customers looking in that price range, including used cars” Mr. Funo told reporters. In 2010, Toyota produced about 2.3 million vehicles in emerging markets. By the year 2013, Toyota wants to increase that number to over 3 million. Toyota is also rumored to be working on a compact car in the Indian market which will be sold for only $6,300. This would be one of their cheapest offerings ever and will surely sell incredibly well in the heavily populated country.
Toyota is hoping to fill a need in these emerging markets by offering quality, affordable compact cars that will be produced in China, Brazil and India. These cars will be available for purchase in the early part of 2015, and will be offered for around $10,000. Toyota hopes that this move will help them compete with some of the other car companies that have set up shop in that region of the world. The new, compact Toyota lineup of vehicles will come with high-quality wheel and tire packages. If you are considering a compact car in the future, you can improve the handling and appearance of the ride by adding Ruff-Racing wheels or fuel wheels.