TOKYO -- Toyota Motor Corp. is aiming to halve the number of car models it sells at home by 2025, the second time this month that a Japanese automaker has emerged with plans to sharply scale back in a shrinking domestic market.
Car sales in Japan have been on a declining trend for more than two decades as the population rapidly ages and young people are losing interest in car ownership. At the same time, global automakers are increasingly focusing their r&d efforts on electric cars and self-driving technologies.
Toyota offers about 60 car models in Japan, where consumers clamor for variety. But it aims to gradually cut that to about 30 by 2025 to make better use of resources.
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