Toyota is a Japanese auto giant, founded in 1937 by Kiichiro Toyoda. It is one of the largest car makers in the world. The brand is known for its superior quality of products and production management system. Toyota had a policy to build and expand new factories every year until now. The company has recently decided to suspend the construction of its new plants for the next three years. According to the new policy, the company plans to suspend the construction of new plants, other than those already announced for construction.
Mean while, Toyota will concentrate its investment on existing plants and aims to increase efficiency with cost cutting. The company has decided a new management plan, which they will be announcing officially in the coming months. Toyota Kirloskar Motors had also announced recently that the Japanese automaker has decided not to introduce any new products in India till 2015. The company is planning to enhance the presence of the Etios and Liva brands for the time being.
Toyota had a plan to introduce its luxury brand Lexus in order to take on BMW, Audi, Mercedes-Benz and Jaguar in India, but eventually they revised their plan because it was unfeasible for the product to enter the Indian market. The company expects the Innova and the Fortuner to do well for some years. Toyota claims to sell around 9.7 million units globally in 2012 and expects to sell around 9.91 million units this year. The company seems to plan an aggressive long term strategy in order to retain its top spot in the international car market.