Toyota Aims for 15% World Market Share Next Decade

Tokyo, April 1 Bloomberg is reporting that Toyota Motor Corp., the world's third-largest automaker, aims to boost its share of the global auto market by half early in the next decade, grabbing 15 percent with its affiliates, the company said in a statement.

The maker of Corolla cars, which currently has about 10 percent of the world market, said without elaborating that motorization is advancing in China and other emerging markets. Toyota plans to increase worldwide sales, including those of affiliates Daihatsu Motor Co. and Hino Motors Ltd., by 2 percent to 6 million units in 2002.

``Toyota is the kind of company that can talk about its visions because it's very stable,'' said Norihiko Kamada, who helps manage $1.2 billion in stocks at Chuo Mitsui Asset Management, including auto stocks. ``There are many companies out there who don't want to discuss their long-term plans.''

Toyota is pushing to increase overseas demand for its vehicles. In the U.S., where it has already grabbed more than 10 percent of the market, the company plans to release a new range of cars to appeal to younger buyers. In Europe, where it's been losing money, it will start making small cars with PSA Peugeot Citroen from 2005 to increase its presence in the market.

The world's largest automaker by market capitalization said it's shifting towards a business structure supported by three profit bases, Japan, North America and Europe, as part of its ``2010 Global Vision'' which ``sets the direction for long-term management,'' and evolved from an earlier 1996 plan, the automaker said.

Toyota shares rose 0.8 percent to 3,680 yen in Tokyo.