New Toyota President Akio Toyoda has abandoned the goal of grabbing a 15 percent share of the global market as part of a back-to-basics focus on quality over quantity.The target was set in 2002 by then-President Fujio Cho as a benchmark for charting Toyota Motor Corp.'s rapid growth. Cho wanted the 15 percent sometime after 2010.
Toyota had a global market share of 10.7 percent in 2002, according to the Automotive News data center.
But Toyoda has different priorities, a high-level Toyota executive says. For starters, Toyoda took office in June amid an unprecedented global slump that has his company battling its first loss in decades, not priming for expansion.
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