Toyota Global Sales Surpass VW and GM
For the third straight quarter, Toyota Motor Corp. has posted strong global sales numbers, outselling major competitors like Volkswagen Group and General Motors Co. These numbers have been helped by a weaker yen, but while the company may be on top globally, here in the States, the automaker came in third. This past quarter in the U.S., Toyota vehicle sales were down 2 percent with sales totaling 520,997, just behind GM and Ford. Volkswagen trailed behind in eighth place. Masatoshi Nishimoto, analyst at IHS Automotive in Tokyo, said in an interview with Automotive News, "We expect Toyota to hold the No. 1 title in the industry until 2016 or 2017. For Toyota to maintain the title beyond that, they may need to grow more in China." While last year may have been Toyota's most profitable fiscal year ever, due to a large-scale recall of nearly 6 million vehicles and a $1.2 billion fine for a recall related to unintended acceleration, analysts have scaled back their estimates on the Japanese automaker's earnings. To continue the success of last year, President Akio Toyoda is pushing to revamp the brand's lineup with the "waku-doki" design language, which offers more emotional design qualities, as well as entry into emerging markets. By appointing outside directors to join the board, Toyoda is creating a system he hopes will keep the company on top of the automotive industry. Source: Automotive News (Subscription Required)
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