Auto industry news - Toyota's global expending plan

Read an article from Yahoo/Finance about Toyota's plan to reach the goal of 15% of world wide auto market share by 2010.

The growth targets are the countries currently undergoing motorization (Toyota's term, same meaning of the German term mobility, mobilization). They are Russian, China, India and Brazil.

Toyota project the world auto production will increas to 73 million from 65 million currently. Toyota currently holds 11% of the worldwide martket share behind only GM.

In Octobe, Toyota outlined plan to produce 9.8 million by 2008.

Excerpts from the article:

Toyota already has one plant in India, with production of 44,500 units, one plant in Brazil, without output of 57,800, and five plants in China, with combined output of 443,000. It plans to open another plant in China in mid-2007 and boost production at other facilities to raise China output to 693,000. Its first Russia plant, with capacity of 50,000 units, is scheduled to open in late 2007.

Nolasco (Toyota spokesman) said there are no additional plans at the moment to build new facilities, but noted that Toyota has a policy of trying to build its cars close to the markets where they are sold. (Mr. Henry Ford's philosophy)

Toyota President Katsuaki Watanabe said last month his company plans to add 8,000 engineers by 2010, and the company said last week it plans to boost capital expenditures in North American by 60 percent to 330 billion yen ($2.82 billion) in the current fiscal year through March.