Toyota Motor Corp. President Akio Toyoda cleared out the remnants of top management inherited when he took the helm in 2009 in a revamp to restore the fortunes of the world’s biggest carmaker after years of turmoil.
Toyota Motor Corp. placed such importance on the Indian-built Etios compact that it was the only new car the company didn’t delay amid the global financial crisis. President Akio Toyoda needs it to escape a sales ranking of seventh in Asia’s second-fastest growing major economy.
General Motors Co . and Volkswagen AG expect to boost vehicle sales in China faster than the nation’s economic growth rate, defying government policies to curb sales and threatening Toyota Motor Corp.’s standing as the world’s largest carmaker.
Toyota Motor Corp. President Akio Toyoda overhauled his top management for a second straight year, strengthening his control over the world’s largest carmaker to vie with General Motors Co. and Volkswagen AG.
China’s passenger-vehicle market had its strongest start since 2010, while sales in India shrank for a third month, illustrating the contrast in automobile demand in the world’s two most populous nations.
China, failing to convince motorists to buy electric cars, is considering widening state subsidies for gasoline-electric automobiles and other fuel-efficient vehicles, according to the industry minister.