Toyota enters Hyundai’s home turf, wants to sell 500 cars a month

Toyota is worldwide success from its hometown in Japan, all the way to the U.S. But there is one market right next door where Toyota has been missing for quite some time now; South Korea. As of March 20, Toyota has entered Hyundai’s home turf and plans to launch with the Prius, RAV4, Camry and Camry Hybrid.

Doors opened to Japanese exports in 1999 and Toyota now follows Honda and Nissan into the Korean market. As of right now, Toyota’s goals are quite modest. The Japanese automaker wants monthly sales of only 500 units through 5 dealerships in Seoul.

This isn’t the first time a Toyota car will be seen in Korea. In 1960 Toyota cars were imported into Korea through a joint venture with Shinjin Kogyo. That partnership ended in 1972. Toyota then launched Lexus in Korea in 2001. Lexus sold 6,600 cars in Korea last year, up from the 800 it sold the year it debuted.

 

Source: Automotive News (Subscription Required)

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