Toyota under its new president will no longer chase global market share and other numerical targets, even as it hopes to sell more cars in emerging markets, a company executive said Friday.
Under previous presidents, Toyota Motor Corp. had set a goal of reaching 15 percent global market share in vehicle sales sometime after 2010. Until the financial crisis sent sales crashing last year, it had been steadily expanding production to reach that goal.
The executive, who spoke on condition of anonymity because he spoke to select reporters, said that the automaker will still use numbers in its business plans but that "the vision" had changed under President Akio Toyoda.