AUTOSHOW-Toyota eyes move into low-cost cars


GENEVA, Feb 28 (Reuters) - Toyota Motor Corp is considering making low-cost cars that could help woo customers in emerging markets, President Katsuaki Watanabe told reporters on Tuesday.

"Looking at the world market I think it will be necessary for us to have low-cost vehicles," he said at the Geneva car show, saying they were especially important for markets like Brazil, India and China.

He was addressing a question about the success of the low-priced Dacia Logan, made by a unit of Renault , that has opened the new-car market for families who in the past may have opted for a used car.

Watanabe gave no details about what the world's second-biggest carmaker had in mind.

"There is no concrete plan I can share with you at this juncture, but I have given the instruction (to Toyota staff) to promote the technology for low-cost vehicles," he said.

The company's thinking was not sufficiently far forward to say what brand the new cars could be sold under, he added.

On other subjects, Watanabe said Toyota was not in the market for any of the North American plants that U.S. rivals General Motors and Ford will close as they slash costs.

"We do not intend to take any action with regards to these plants being closed," he said, noting Toyota had not been approached about this and was not going to act proactively.

He said he was satisfied for now with Toyota's production capacity in China but that the group needed "one more step" to boost output for India.



Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×