Toyota Motor Corp. ( TM - Analyst Report ) revealed that it would introduce eight compact car models in the emerging markets including Brazil, China, India and Indonesia by 2015 in order to catch up with the leading automakers in the markets, including Volkswagen AG ( VLKAY ) , General Motors Company ( GM - Analyst Report ) and Hyundai Motor Co. ( HYMLF ) .

The Japanese automaker aims to boost its sales in the emerging markets to 50% of global sales from 45% in 2011 and 18.6% in 2000. This is a part of the company’s target to achieve annual sales of more than 1 million vehicles by 2015 in over 100 countries.

The price of the new models will start from about ¥1 million ($12,600). The company plans to manufacture them mainly in Brazil, China and India by procuring 100% of the car components locally at low costs. As a result, the company intends to strengthen research and development activities in those markets.

Toyota lost its No.1 position to GM and Ford Motor ( F - Analyst Report ) in terms of sales volumes in the U.S. As a result, the company plans to increase its dependence on the non-U.S. markets, especially the high growth emerging markets. The company plans to enhance annual production capacity in the markets to 3.1 million vehicles by 2013 from 2.38 million vehicles in 2010.

Toyota, a Zacks #1 Rank (Strong Buy) stock, posted a 30.5% decline in profits to ¥283.56 billion ($3.7 billion) or ¥90.20 ($1.17) per share in its fiscal year ended March 31, 2012 compared with ¥408.18 billion or ¥130.16 in the prior fiscal year. With this, the company has missed the Zacks Consensus Estimate of $2.52 per share for the year.

Consolidated revenues in the year dipped marginally by 2% to ¥18.58 trillion ($241.59 billion). Total unit sales increased 0.6% to 7.35 million units during the fiscal year. Higher unit sales in Japan (8%), Europe (0.3%) and Asia (6%) were significantly offset by lower sales in North America (8%) and Other reporting regions (2%).

The decrease in revenues and profits was attributable to challenges faced by the company owing to the earthquake in Japan and severe flooding in Thailand in 2011 as well as unprecedented strength of the yen.

For fiscal 2013 ending March 31, 2013, Toyota projected consolidated vehicles sales to increase 1.35 million units to 8.70 million units. Consequently, the company expects higher consolidated revenues of ¥22.00 trillion, operating income of ¥1.00 trillion and net income of ¥760.0 billion for the fiscal year compared with fiscal 2012.