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The Japanese automaker Toyota releases its new development strategy. China remains Toyota’s most important overseas market.
Toyota published its global development strategy for the next five years on March 16, 2011. It stated that China would continue to remain Toyota’s biggest overseas market in the future.
Even though details about Toyota’s future development in China did not become available, it is certain that Toyota is going to carry out adjustments of its strategy to change the company’s unfortunate situation in China. In fact, the Japanese automaker had to recall its automobiles because the stuck gas pedals. As a result, Toyota unfortunately became the least favorite foreign automotive brand of Chinese people according to a recent survey held by Global Times.
Chinese market as a means to growth
Toyota will develop a development strategy after April that will determine sales goals and operation plans for different markets.
According to Akio Toyoda, the president of Toyota, the Japanese automaker is planning to increase the proportion of units sold in China to 15% of its global sales.
According to statistics, 60% of Toyota’s vehicles were sold in the developed countries’ markets represented by Japan, Europe and the US in 2010. The emerging markets, led by China, India and Latin America, contributed to 40% of Toyota’s sales. However, Toyota’s next five-year plan highlights the equal status of developed and emerging markets. The automaker is planning to sell the same amount of vehicles in both developed and emerging markets.
China is considered an important actor to reach this goal. In fact, Toyota plans to sell 1.5 million units in China in 2015. Akio Toyoda believes that if his company will be able to succeed in China, it will complete the task of “increasing global sales to 10 million units in 2015” as mentioned in the plan.
Toyota’s sales in China increased with 19% to 846 thousand units in the period from 2009 to 2010. It implies that the company will have to double its sales in the next five years in order to reach the aforementioned goal.
Akira Sasaki, who manages Toyota’s sales in China, says that the company cannot announce a detailed development plan in the country until it had engaged in a discussion with Chinese partners. In his opinion, China will play the most important role in Toyota’s development in the future. “The management hopes that 1.5 million vehicles will be sold annually in China. However, as a sales manager in China, I hope that the annual sales will reach 1.6 million or1.8 million units.”
Change the Distribution in China
In order to accelerate its growth, Toyota decided to make a change to its board of directors:
In China, Shinji Tomonori from Honda was appointed general manager of Toyota (China) Investment Co., Ltd. Masahiro Kato, who had experience in China, was appointed general manager of Toyota China. Satori Mori, who held the position of general manager, returned to Japan, but will continue to supervise China’s business. In addition, Dong Changzheng, former executive vice-president of Beijing Benz also joined Toyota. He holds the position of vice general manager of Toyota China.
Meanwhile, Akira Sasaki said Toyota’s annual production capacity in China is 800.000 units. According to him, Toyota is going to improve its production capacity by expanding its plant in Chengdu. Furthermore, the plant in Changchun, with annual production capacity of 100.000 units, will also expand its production capacity. In addition, Toyota is talking with its two Chinese partners – First Auto Work and Guangzhou Auto – on expanding the production capacity of its plants in Tianjin and Guangzhou.
Toyota China has been given independent rights in recruiting local talents. More and more Chinese people, like Dong Changzheng, will join in the executive team of Toyota China. Akira Sasaki believes that this could help Toyota China gain independent management and decision-making rights. On the other hand, the local talents could help Toyota gain knowledge of the Chinese market and avoid issues.
Meanwhile, Toyota China will invest 689 million US dollars to build an auto research and development center (R&D center) in China. According to the plan, if the center is established, it will be the largest auto R&D center in China and the third global strategic technology center of Toyota.
Additionally, Toyota will invest more in sustainable development. Apart from the hybrid car Prius that was launched in China in 2009, Toyota conducts an experiment on plug-in hybrid cars in Tianjin. Akira Sasaki hopes that plug-in hybrid cars can be introduced in China this year.
Toyota published its global development strategy for the next five years on March 16, 2011. It stated that China would continue to remain Toyota’s biggest overseas market in the future.
Even though details about Toyota’s future development in China did not become available, it is certain that Toyota is going to carry out adjustments of its strategy to change the company’s unfortunate situation in China. In fact, the Japanese automaker had to recall its automobiles because the stuck gas pedals. As a result, Toyota unfortunately became the least favorite foreign automotive brand of Chinese people according to a recent survey held by Global Times.
Chinese market as a means to growth
Toyota will develop a development strategy after April that will determine sales goals and operation plans for different markets.
According to Akio Toyoda, the president of Toyota, the Japanese automaker is planning to increase the proportion of units sold in China to 15% of its global sales.
According to statistics, 60% of Toyota’s vehicles were sold in the developed countries’ markets represented by Japan, Europe and the US in 2010. The emerging markets, led by China, India and Latin America, contributed to 40% of Toyota’s sales. However, Toyota’s next five-year plan highlights the equal status of developed and emerging markets. The automaker is planning to sell the same amount of vehicles in both developed and emerging markets.
China is considered an important actor to reach this goal. In fact, Toyota plans to sell 1.5 million units in China in 2015. Akio Toyoda believes that if his company will be able to succeed in China, it will complete the task of “increasing global sales to 10 million units in 2015” as mentioned in the plan.
Toyota’s sales in China increased with 19% to 846 thousand units in the period from 2009 to 2010. It implies that the company will have to double its sales in the next five years in order to reach the aforementioned goal.
Akira Sasaki, who manages Toyota’s sales in China, says that the company cannot announce a detailed development plan in the country until it had engaged in a discussion with Chinese partners. In his opinion, China will play the most important role in Toyota’s development in the future. “The management hopes that 1.5 million vehicles will be sold annually in China. However, as a sales manager in China, I hope that the annual sales will reach 1.6 million or1.8 million units.”
Change the Distribution in China
In order to accelerate its growth, Toyota decided to make a change to its board of directors:
In China, Shinji Tomonori from Honda was appointed general manager of Toyota (China) Investment Co., Ltd. Masahiro Kato, who had experience in China, was appointed general manager of Toyota China. Satori Mori, who held the position of general manager, returned to Japan, but will continue to supervise China’s business. In addition, Dong Changzheng, former executive vice-president of Beijing Benz also joined Toyota. He holds the position of vice general manager of Toyota China.
Meanwhile, Akira Sasaki said Toyota’s annual production capacity in China is 800.000 units. According to him, Toyota is going to improve its production capacity by expanding its plant in Chengdu. Furthermore, the plant in Changchun, with annual production capacity of 100.000 units, will also expand its production capacity. In addition, Toyota is talking with its two Chinese partners – First Auto Work and Guangzhou Auto – on expanding the production capacity of its plants in Tianjin and Guangzhou.
Toyota China has been given independent rights in recruiting local talents. More and more Chinese people, like Dong Changzheng, will join in the executive team of Toyota China. Akira Sasaki believes that this could help Toyota China gain independent management and decision-making rights. On the other hand, the local talents could help Toyota gain knowledge of the Chinese market and avoid issues.
Meanwhile, Toyota China will invest 689 million US dollars to build an auto research and development center (R&D center) in China. According to the plan, if the center is established, it will be the largest auto R&D center in China and the third global strategic technology center of Toyota.
Additionally, Toyota will invest more in sustainable development. Apart from the hybrid car Prius that was launched in China in 2009, Toyota conducts an experiment on plug-in hybrid cars in Tianjin. Akira Sasaki hopes that plug-in hybrid cars can be introduced in China this year.