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Toyota faces intense competition from General Motors Co., Volkswagen AG and Hyundai Motor Co., as well as Japanese rival Nissan Motor Co., allied with Renault SA of France. They all have the same thing in mind
-- growing in emerging markets such as China, Indonesia, Brazil and India. Eighty-one percent of the parts used in Toyota vehicles manufactured in Thailand are now made in Thailand, while that rate is 75 percent for those manufactured in Indonesia. Toyota hopes to raise the use of locally made parts in emerging markets to close to 100 percent in the next few years, it said. Using locally made parts is key to cutting costs. "Seeing ourselves as a Toyota belonging in each country will lead to growth," Funo said. "We become insiders."
[Associated
Press;
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