Toyota aims to boost emerging-market sales

5/26/2012

TOKYO -- Toyota Motor Corp. said Friday it is targeting 50 percent of its global vehicle sales to emerging markets by 2015 and is rolling out eight compact models over the next few years.

Yukitoshi Funo, Toyota's executive vice president, said the company won't try to compete in supercheap models that are plentiful in developing nations.

Toyota sells more than 3 million vehicles a year, or 45 percent of its global sales of 7.1 million, in emerging markets. It aims to add a million vehicles in annual sales from emerging markets with the eight new models.