Toyota Motor Corp, world’s largest auto manufacturer between 2008 and 2010, suffered most during natural disasters that struck Japan in 2011. Because of which they also lost their No 1 vehicle manufacturer status to GM and slipped to 4th position in 2011. But, during first quarter of this year, the company has managed to outdo their sales targets so as to make up for losses suffered in Q3 and Q4 of 2011.
Sales rose 18% and touched 2.49 million units in Q1-12 thus catapulting Toyota, Japanese auto makers ahead of General Motors Company which saw sales of 2.29 million in Q1 -12 while Volkswagen sales stood at 2.16 million during the same period.
In US, Toyota Motor Corp sales in April consisted of increased demand for Camry sedan and the Prius hybrid. In US markets Toyota was the largest automaker in 2008 overtaking General Motors. Toyota Motor Company has set targets of 18% growth to 8.7 million units by end of this fiscal. Sales across North America are set to increase by 26% to 2.35 million while deliveries in Japan are expected to increase 6.2%, in Asia by 34% while in Europe by 10% according to the company.
Mr Jeff Schuster, Senior VP of forecasting, LMC Automotive, said, “They have a new sense of competitiveness and they certainly are bringing their volume back. They have some new product around the world that’s helping, with the new Camry and the Prius family.”
Mr Jim Wiseman, External Affairs VP, Toyota North America said, “Although being No. 1 is not the main goal for us, it’s nice to see because hopefully it shows we’re on the right track. With customers reacting so positively to all of the new and updated products we’re introducing this year, we’re optimistic the good momentum will continue. We’re making progress on our plan for profitable growth and we’re seeing strong sales of our newest products, especially at Chevrolet, which has been the fastest-growing global brand for the last two calendar years.”