A man walks past Toyota Motor's vehicles displayed at the company showroom in Tokyo. (Photo : Reuters)
Toyota Motors announced new plans of rolling out eight new compact cars, in a press conference on Friday.
The automaker also said its targeting sales of more than one million of the models annually in the emerging markets by 2015.
Toyota Motors, which is the biggest automaker in Japan, the production of the eight new compact cars will take place in Thailand, Indonesia, India and Brazil. Toyota will produce the eight new cars under 'one million yen or more'.
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Yokitoshi Funo, Executive Vice President of Toyota Motors, speaking to reporters said the company has no intentions of selling its cars at 50,000 yen. Toyota will keep its promises to loyal customers.
Funo said that Toyota Motors is flexible in marketing and sales of all its cars in any part of the world. He said that if consumers in U.S. like some of our models in other countries then the company would distrubute specified models in the U.S. too.
The latest hatchback from Toyota Motors, Etios, is getting a rave reviews all across the Indian market. Though priced at an affordable rate, Etios has been rated as the best compact model in India. Looking at the success rate of the compact model, now Toyota has introduced Etios with much bigger engine in South Africa. As per the official announcement from Yokitoshi Funo, compact model Etios has been distributed in emerging markets to see the response and requirements of consumers. The world class automaker has other brands such as Lexus, Daihatsu, and Hino all across the world.