Toyota is aiming to expand its global market share to 15% ‘early in the 2010s’. Such a level would challenge GM for the title of biggest vehicle manufacturer in the world. Toyota believes that the increase can be achieved via growing levels of motorisation in emerging markets such as China.
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The share target is one of the highlights of the company’s “2010 Global Vision” policy paper defining the company’s long-term goals and guiding principles.
Toyota’s share of the global vehicle market currently stands at around 10.5%, with GM on 14.4% and Ford on 12.9%.
However, analysts viewed the pronouncement a little sceptically, noting that a 50% increase to share over that timescale sounds ambitious. And if the global market continues to grow, the necessary volume requirement to grow share could be a lot higher.
Ashvin Chotai of DRI-WEFA said: “Toyota has been losing share in Japan and its potential for major share gains across Europe will be limited in the future. Scope to gain share in North America is also limited for Toyota where it is already a very established player – unlike say Hyundai.
“They will obviously need to be doing very well in emerging markets where the future growth of vehicle sales will be concentrated. But the scope is limited there also. In the ASEAN region for example, Toyota – as market leader – will be under pressure from competitors.
“And to be honest, Toyota is no more favourably positioned in the big emerging markets of India and China than other Western manufacturers. All things considered, the target looks rather ambitious.”
