Toyota aims to double profit before 2015

(Reuters) – Toyota Motor Corp will rely more on emerging markets for sales and launch about 10 new hybrid models under a long-term strategy aimed at nearly doubling profits before 2015, its president said on Wednesday.

The world’s largest car maker, trying to move on from a massive global recall of vehicles a year ago, will cut its board to 11 members by June from the current 27 to speed up decision making as part of the blueprint.

Outlining his “Global Vision,” Toyota President Akio Toyoda said the company would also eliminate one layer of management, while giving each geographic region a bigger role to bring the automaker closer to its customers after a recall of nearly 20 million cars since 2009 damaged Toyota’s once-impeccable image for quality.

Reuters
3/9/11