Toyota invests in Africa.
Toyota announces intentions to increase it's focus in Africa
Japanese automobile giant, Toyota has announced it intends to increase its focus on the African continent. The second largest manufacturer after US giant Ford, already has a presence in all 54 nations on the African continent. The Toyota spokesperson for the African region has said both the East and Western African auto mobile markets are expected to grow by up to 5% this year alone. Industry experts claim that is as a result of private sector growth and a reduced dependence on the public sector, inn particular governmental business. Toyota holds a 14% market share in the African market and last year sold 237,000.
The Toyota Etios is the best selling Toyota model in Africa
The Toyota Etios is the company's best selling model in Africa. Toyota sells an average of 2,000 Etios models each month on the African continent. The Etios model was first introduced in India in 2010 and targeted cost-conscious customers.
A spokesperson for Toyota has said: "People tend to think if you sell things to Africa, you can sell them inferior things. I think that will be the biggest mistake you can make. The consumer in Africa is as much aware of quality than anybody else." However industry experts claim that it faces competition from India's largest automobile manufacturer, Tata Motors and China's largest automobile manufacturer, Chery Automobile, all who are greatly experienced in operating in emerging markets.