LEAKED: Toyota's "Global Master Plan" Calls For 15 Percent Worldwide Share By 2010

Washington DC November 13, 2006; The AIADA newsletter reported that a leaked copy of Toyota Motor Corp.'s "global master plan" calls for grabbing 15 percent of the world car market by 2010 in the company's quest to takeover the No.1 selling spot from General Motors, according to a news item picked up Monday by the Los Angeles Times.

Toyota declined to comment on the report, but confirmed that it is indeed looking forward to a surge in demand in Russia, India, China and Brazil markets to help fuel its rapid global expansion.

The 15 percent projection includes affiliates Daihatsu Motor Co. and Hino Motors Ltd. Excluding those affiliates, Toyota will shoot for a 14 percent market share, according to the original report that appeared in the Wall Street Journal.

The plan predicts global auto sales by all carmakers to jump to 73 million vehicles in 2010 from 65 million in 2005, the Journal said, adding that Toyota will likely boost production in India and China to meet demand.

The company is already working on a new compact specially geared toward developing countries, where car ownership is on the rise but family budgets are still small, the report said.

Toyota President Katsuaki Watanabe said in October that his company plans to add 8,000 engineers by 2010. Last week, the company announced plans to boost capital expenditures in North American by 60 percent to $2.82 billion in the current fiscal year through March.