Toyota 2012 Annual Report Download - page 18

Management and
Corporate Information Investor Information
Changes for Making
Ever-Better Cars
Toyota Global Vision Business and
Performance Review Financial Section President
ʼ
s Message Medium- to Long-Term
Growth Initiatives Special Feature
TOYOTA ANNUAL REPORT 2012
Expanding Production in
Emerging Markets
- 3.1 million vehicles by 2013
Sales Strategies in Emerging
Markets
- The IMV* Project
* IMV stands for
“Innovative International Multipurpose Vehicle”
. The name is based on our intention to create multipurpose vehicles
that will meet the needs of consumers worldwide.
TSAM (South Africa)
Production results
2000
2005
2010
540
1,350
2,380
3,1002013
Production capacity
( Thousands of units)
Production Capacity Expansion in Emerging Markets
TASA (Argentina)
Asia
360,000
（46%）
Australia
40,000
（5%）
Middle East
130,000
（17%）
Central &
South America
110,000
（14%）
Africa
100,000
（13%）
Europe
30,000
（4%）
Europe
Middle East
Africa Asia
Oceania
Central and South
America
TASA
(Argentina)
TSAM
(South Africa)
TMMIN
(Indonesia)
Exports (main supply)
Exports (backup supply)
TMT
(Thailand)
IMV Series Vehicle Sales by Region IMV’ s Global Supply Structure
Toyota’ s overseas business has evolved through
three stages, from making in Japan and exporting,
to producing in regions where demand exists and
then to the current stage whereby Toyota has an
efficient global production and supply.
Global production and supply are supported in the
emerging markets, where we have been increasing
investment so as to boost production capacity. We
began production of the Fortuna in India in 2009,
followed by the diesel Corolla and the Etios in 2010,
and expanded investment in factories accordingly. In
Brazil, production of the Corolla FFV began in 2007 ,
and sales have steadily increased since then. We
plan to start production at a new compact vehicle
plant in Brazil in the latter half of 2012.
As a result of such efforts, production capacity in
emerging markets is forecast to reach approximately
3. 1 million vehicles in 2013, which is the same level
as that in Japan and represents a great increase
over the 540,000 vehicles output in 2000.
The IMV Project constitutes an important sales
strategy in emerging markets. Launched in 2004,
the IMV series consists of five vehicles̶three
pickup trucks, a minivan and an SUV̶specially
developed in 2004 for introduction in over 140
countries. Currently, the IMV series is manufactured
in 11 locations, with sales of locally manufactured
vehicles underway in approximately 170 countries.
Toyota applied the
genchi genbutsu (onsite,
hands-on experience) approach to observing and
analyzing the kinds of vehicles used in various parts
of the world, and developed and introduced IMVs
to meet the needs of each region. Thorough after-
sales service programs for IMVs have gained the
trust of customers around the world.
The scale of the market will continue to grow, and
Toyota plans to increase capacity in Thailand, where
the auto parts supply industry is concentrated, as the
global supply base. Increases in new investment to
strengthen other supply bases, including Indonesia,
and sequential production bases, are planned.
The Shift to Emerging Markets and Toyota’ s Strategy
Making Cars that Meet National and Local Needs
Special Feature: Toyota’ s Efforts in Emerging Markets 2
The aims of the IMV Project are product appeal, low cost and efciency, followed
by exchange-rate-uctuation response capability. Toyota aims to enhance
product value by developing specialized models optimized to the tastes and
environments of consumers in emerging markets. We have also sought to reduce
costs and gain efciency by consolidating production, transitioning from small-
scale production at 11 companies to large-scale production at four global supply
bases. We are coping with the ever-strengthening yen by creating a structure
that maximizes local procurement.
The IMV Project is currently accelerating the process of globalizing production
and supply. Among the four global supply bases, Thailand serves as the base
for Asia, with the other global sites handling exports throughout the rest of the
world, such as to Oceania, Europe, the Middle East, and Central/South America,
developing into centralized bases. Localized procurement is also evolving, so that
parts procurement is not handled within individual countries, but rather through
a globally optimized procurement structure for parts.
Asia makes up half of the sales of the IMV series, but sales in the Middle East,
Africa, and Central/South America are also solid, with sales structures based on
locally made core models. Production capacity recovered comparatively quickly
amidst the supply shortages caused by the Japan Earthquake and Thailand oods
in 2011, with the number of vehicles sold increasing greatly. As a result, sales
improved from 460,000 in 2005 in the immediate aftermath of the IMV Project
launch to 770,000 in 2011, and with markets predicted to grow from 2012 on,
sales are also expected to increase.
Strengths of the IMV Project
From basic to luxury models for
personal or business use
Hilux
This high-end SUV garners much attention
from consumers in the Middle East and India
Fortuna
Popular with big families in India and
Indonesia, as well as taxi companies
Innova
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Contents
0821
20112010200920082007200620052003
（Previous model）
430 460
600 700 710 630
810 770
2012
(Projected)
IMV Series Annual Sales Volume
(Thousands of units)
Sales volume is on a steady growth trend, lifted
by growth in emerging markets. Sold 770,000
units in 2011 despite supply shortages caused by
the Japanese earthquake and Thailand floods.
Performed
well in all
emerging and
resource-rich
nations, not
just in Asia
2011 Sales
770,000
units
Cumulative IMV sales
volume reaches
5 million
(March 2012)