Toyota turns to BMW where support of European businesses are concerned
Toyota Motor Corp was overpowered by Volkswagen AG where sales during 2011 were concerned. Now in an attempt to increase their sales in Europ, Toyota will be launching Europe’s first hybrid subcompact car the GT 86 sports coupe. This will be Toyota’s way of getting back their position in the auto sector what they had lost.
According to IHS Automotive, Toyota Motors is expecting to register profits from the European car market for the first time this year in five years. On the other hand, analysts predict that VW’s hold on the European car market will loosen a bit this year. Toyota wants to regain their No 1 position in the auto industry, but for that they will have to stop VW first.
Mr Didier Leroy, Chief, Toyota Europe, said, “It’s unacceptable for Toyota to be at this volume level in Europe. By cutting management layers to streamline decision- making over the past two years, we made ourselves much leaner, much more agile. We strongly went for the fighting spirit in everything we do.” Mr Jonathan Poskitt, Sales forecasting head, LMC Automotive, Europe, said, “The real issue for Toyota is winning back customers. Toyota really needs to refocus on the requirements of what are sophisticated European customers that already have a great choice in new vehicles.”
In order to ensure that their European business receives a boost, Toyota will be signing a contract with BMW AG for the supply of diesel engines from 2014 which will then be seen in all their vehicles. Toyota will be focusing on winning back their customers from the VW Group.
GT 86 which is soon to be launched will have acceleration of 0 to 100 km per hour in just 8.2 seconds and will possess low slung grill and dual exhaust pipes. This design is bring initiated so as to offer competition to Volkswagen Scirocco and Peugeot Citroën RCZ in a bid for Toyota to get back to their previous place of glory. This position will further be accentuated and cemented once BMW starts deliveries of their diesel engines to Toyota in the next two years.