Toyota’s Success in Latin America

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Car sales in Latin America plunged from 6.2 million units in 2013 to 4.2 million last year. But Toyota Motor Co. has hiked its share of that market to 10% from 5.3% over the same period.

Steve St. Angelo, senior managing officer for the region, says the key is focusing on basics. That means listening very carefully to consumers about what they want, especially given the fast-changing nature of today’s car market.

Toyota remains bullish about the Latin American market. St. Angelo says that’s why the company is investing there in products, facilities and employee training to prepare for the next wave of growth.