Toyota Motor Corp. said Friday it plans to boost compact car sales tenfold in emerging markets by 2015 by adding seven new models and boosting local production and procurement in countries where rising wages are boosting demand.
The automaker is aiming to sell 1 million small cars a year in countries including India, Indonesia and Thailand by 2015.
The effort to boost sales and production of compact cars in markets where Toyota has focused on pickup trucks and sedans is part of its goal to increase vehicle sales in emerging markets to half the total.