Toyota plans to sell 4,000 units a month of its Raum small car in Japan in an effort to raise its market share at home to 43% this business year, according to Bloomberg News.
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The Raum, revamped for the first time in six years, went on sale this week with a 1.5-litre engine, priced between 1.4 million yen ($US11,978) and 1.87 million yen, the report said.
Bloomberg News said Toyota, which posted its third straight record annual profit for the year ended March 31, expects domestic car sales to rise 0.6% to 1.72 million units this business year and the company, which now generates about 80% of its operating profit in North America, wants to raise sales at home with about 11 new and revamped model releases this year.
“We still expect demand for small cars to be strong in Japan,” President Fujio Cho said at a Tokyo press conference, according to Bloomberg News.
Toyota managing director Kyoji Sasazu told the news agency that demand for compact cars in Japan has increased this month but did not give any figures though he added that compacts and minivans will continue to be the main drivers of growth in the Japanese market.
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By GlobalDataAccording to Bloomberg News, Toyota is using a new material made from lactic acid derived from plants such as sugar cane and corn for the Raum’s spare tyre cover and floor mats. The model meets the Japan government’s standard for ultra-low emissions vehicles.
