Saturday, March 01, 2008

Toyota Motor Corp Planning diesel SUV in Indonesia

Indonesia is an important car market in Asia. Indonesia has the third largest people in Asia and it is strategically located in East Asia. Most of the major car companies of Asia are present in the country. Indonesia also exports car to other countries and this year, it is expected that Indonesia would be able to export $ 2.9 billion from exporting cars.

Toyota Motor Corp (TYO:7203) has a strong presence in the country and according to one report, Toyota controls 33.2% of car market in Indonesia. Now, Toyota is planning to increase its production capacity in the country so that it can produce more cars for the local market and increase export.

Xinhua reported:

The Japanese top automaker, Toyota Motor Corp, plans to assemble diesel sports utility vehicle Fortuner in its Indonesian plant and considers overseas sales, an executive said Saturday.

Local subsidiary PT Toyota Motor Manufacturing Indonesia (TMMI) has already produced and exported hundreds of petrol Fortuners to countries in the Middle East.

This is a welcome news for Indonesian economy.