Toyota 2005 Annual Report Download - page 47

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BUSINESS OVERVIEW >45
MARKET STRATEGY
Drive growth by deploying management
resources to markets in China and ASEAN
China and ASEAN countries promise medium-
to-long-term economic growth. Therefore, we
are allocating management resources to those
markets, which we view as of equal importance
to Japan, North America, and Europe. In
ASEAN countries, Toyota is strengthening the
region’s role as a strategic export base for pickup
trucks and multipurpose vehicles. Centered on
Thailand, that initiative is called IMV
(Innovative International Multipurpose Vehicle).
In China, we aim to rapidly expand our oper-
ational foundations through strategic partner-
ships with major local automakers, including
China FAW Group Corporation and Guangzhou
Automobile Group Co., Ltd. By 2010, Toyota
hopes to secure a 10% share of China’s market
by moving forward with localization and by
building the organizational infrastructure to
support a full lineup of models. Through our
alliance with China FAW Group Corporation,
we have already begun the production of five
models in China, ranging from compact cars to
luxury sedans and SUVs. Also, we plan to start
up the production of the Prius hybrid vehicle
and a new passenger model, the Reiz, by the
end of 2005. And, from the middle of 2006 a
joint venture company established with
Guangzhou Automobile Group is scheduled to
begin manufacturing the Camry midsize sedan,
lifting annual production capacity in China to
335,000 vehicles.
Joining Forces with Guangzhou
Automobile Group
In September 2004, Toyota and
Guangzhou Automobile Group Co.,
Ltd., jointly established the produc-
tion and sales company Guangzhou
Toyota Motor Co., Ltd. The new
company is slated to commence
annual production of 100,000 Camry models from mid-2006. Further, a joint
manufacturing company that we created with Guangzhou Automobile Group in
February 2004 for Camry engines began partial production from January 2005.
Expansion of Production Capacity in China to 335,000 Units in 2006
Start of Production Tianjin plant Changchun plant Sichuan plant Guangzhou plant
2000 December Coaster
2002 October Vios
2003 September Land Cruiser Prado
October Land Cruiser
2004 February Corolla
2005 March Crown
Scheduled Reiz Prius
2006 Scheduled Camry
Dealer in Thailand
Corolla