Toyota plans to halve Japan car models by 2025
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Toyota is planning to halve the number of car models it sells in Japan to about 30 by 2025 to focus on more popular models in a shrinking market, a person briefed on the matter told Reuters on Thursday.
The automaker currently offers about 62 car models in Japan, including the Prius gasoline hybrid and the Aqua compact hatchback, along with less popular ones including the Premio sedan.
Auto sales in Japan have been falling as the population rapidly ages, while young people are losing interest in car ownership.
The plans will allow Toyota to make better use of its resources, the person said, who was not authorized to comment on the matter and declined to be identified.
Toyota spokeswoman Akiko Kita said the company was pursuing a number of strategies to maintain sales at least 1.5 million vehicles annually in a shrinking market. It currently sells around 1.6 million a year.
Toyota and other global carmakers are concentrating their efforts on developing lower emissions vehicles, including electric cars while also focusing on expanding market share in emerging markets.
Questions & Answers
Q.By what year does Toyota aim to reduce its car models in Japan?
By what year does Toyota aim to reduce its car models in Japan?
Toyota plans to halve its car models in Japan to about 30 by 2025. This move is intended to focus on more popular models in a shrinking market.
Q.What is the current number of car models Toyota offers in Japan?
What is the current number of car models Toyota offers in Japan?
Toyota currently offers approximately 62 car models in Japan. These include well-known models such as the Prius gasoline hybrid and the Aqua compact hatchback.
Q.What are the main reasons for the declining auto sales in Japan?
What are the main reasons for the declining auto sales in Japan?
Auto sales in Japan are falling due to the rapidly aging population. Also, young people are showing less interest in car ownership, contributing to the shrinking market.
Q.What annual sales target does Toyota aim to maintain in Japan?
What annual sales target does Toyota aim to maintain in Japan?
Toyota aims to maintain annual sales of at least 1.5 million vehicles in the shrinking Japanese market. The company currently sells around 1.6 million vehicles each year.
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