Toyota headquarters in Toyota City, Japan. [File photo]

Toyota is eyeing emerging markets for growth, targeting 50 percent of its global vehicle sales there by 2015.

Toyota Motor Corp. already sells more than 3 million vehicles a year in emerging markets, making up 45 percent of its global sales.

The Japanese top automaker also said Friday that it planned to launch eight compact cars specifically targeting emerging economies, and achieve a target of selling more than 1 million units annually in over 100 countries by 2015.

The company plans to release the eight models in countries such as China, and member states of the Association of South East Asian Nations. And the price will be at around 1 million yen or above, Toyota officials said.

Meanwhile, Toyota will boost its Indian output capacity from the current 210,000 units a year to 310,000 units in 2013. It will also open a new plant in Brazil later this year.

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