Japanese automaker captures 11% of the global vehicle market in 2005, and is poised to grow even more aggressively over the next 3 years.
The Wall Street Journal published Toyota's global master plan to grab 15% of the international car market by 2010.
The Tokyo-based manufacturer's plan predicts that overall global auto sales will soar from 65 million vehicles in 2005 to 73 million in 2010.
While the big three U.S. automakers struggle with high labour costs including pension and benefit liabilities, Toyota has taken advantage of component-based automation to focus on producing high-quality vehicles that meet or surpass customer expectations.
Currently number two behind General Motors, Toyota is counting on surging demand from Brazil, Russia, India and China to fuel the company's rapid expansion.
Some analysts point out that Toyota plants in North America provide jobs to Americans, Canadians and Mexicans. At the end of the day, however, car maker profits are flowing out of North America and into the increasingly deep pockets of the Japanese corporation.
