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Business

Emerging markets and high-tech drive auto industry change

The sky's the limit as automakers shift into technological overdrive

Members from Toyota Motor and other people work on a prototype of a flying car. (Photo by Masayuki Kozono)

TOKYO The global automobile market is changing, with old industry models being junked as manufacturers open their doors to new technologies and ways of doing business.

Toyota Motor, one of the more conservative majors, is aware of this trend and altering its approach. Recognizing the convergence of advanced and emerging markets, the company rolled its two regional planning and sales units into one. The move came only three years after the two region-based business units -- one for North America, Europe and Japan and the other for the rest of the world -- were created in April 2013.

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