Toy­ota plans to halve Ja­pan car mod­els by 2025

Business World - - WORLD BUSINESS -

TOKYO — Toy­ota Mo­tor Corp. is plan­ning to halve the num­ber of cars it sells in Ja­pan to about 30 by 2025 to fo­cus on more pop­u­lar mod­els in a shrink­ing mar­ket, a per­son briefed on the mat­ter told Reuters on Thurs­day.

The au­tomaker cur­rently of­fers about 62 car mod­els in Ja­pan, in­clud­ing the Prius gaso­line hy­brid and the Aqua com­pact hatch­back, along with less pop­u­lar ones in­clud­ing the Premio sedan.

Auto sales in Ja­pan have been fall­ing as the pop­u­la­tion rapidly ages, while young peo­ple are los­ing in­ter­est in car own­er­ship.

The plans will al­low Toy­ota to make bet­ter use of its re­sources, the per­son said, who was not au­tho­rized to com­ment on the mat­ter and de­clined to be iden­ti­fied.

Toy­ota spokes­woman Akiko Kita said the com­pany was pur­su­ing a num­ber of strate­gies to main­tain sales at least 1.5 mil­lion ve­hi­cles an­nu­ally in a shrink­ing mar­ket. It cur­rently sells around 1.6 mil­lion a year.

Toy­ota and other global car mak­ers are con­cen­trat­ing their efforts on de­vel­op­ing lower emis­sions ve­hi­cles, in­clud­ing elec­tric cars while also fo­cus­ing on ex­pand­ing mar­ket share in emerg­ing mar­kets. —

STAFF WAIT for vis­i­tors at Toy­ota’s booth dur­ing the Im­ported Auto Expo in Beijing, China, Sept. 24, 2015.

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