Toyota Motor is setting up a new business division called Mekong Region Virtual Company to help drive sales growth in Indochina, including Vietnam, Laos, Cambodia and Myanmar.

The new business unit is controlled by Toyota Motor Thailand and has a target of more than doubling sales in the sub-region to 125,000 vehicles by 2018, from 54,900 units last year.

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Toyota sees significant growth potential in Indochina, given the low vehicle penetration rate and the combined population 240 million – more than a third of the ASEAN total.

Toyota’s sales in the Indochina’s individual markets last year include 41,000 in Vietnam, 12,600 in Laos, 1,100 in Cambodia and just 200 in Myanmar.

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