TOKYO -- Toyota Motor will mutually supply cars in India with market leader Suzuki Motor starting in 2019, Nikkei has learned, as the company seeks to build a foothold in emerging markets.
Emerging nations will comprise nearly 60% of global auto sales in 2021, according to an industry research agency. But only about 40% of Toyota's global sales came from these areas last year, and the automaker controls less than 10% of the market in countries like India, Russia and Brazil. As sales level off in the U.S. and Japan, Toyota must find a way to penetrate emerging markets.
