Toyota to Target Burma for Expansion
2 July 2013
Japanese automaker Toyota said it will target Burma and other emerging markets by developing compact cars to meet the needs of consumers in developing countries, Bloomberg News reports. The company, which is currently the world’s largest carmaker, said it aims to get about half of its total sales from first-time buyers in countries where a growing number of consumers now have the purchasing power to buy new vehicles. Toyota Executive Vice President Yasumori Ihara said at a briefing in Nagoya, Japan, on Monday that the company would work closely with Daihatsu, also of Japan, to develop vehicles suitable for emerging markets such as those in Burma, Cambodia and Kenya.