Toyota Unlikely to Regain 17 Percent Market Share
Toyota doesn’t expect to recapture the 17 percent market share in the U.S. it held four years ago.
“I think we had some tailwinds that were very, very unique, so I’m not sure if 17 percent is a realistic number,” Toyota North American CEO Jim Lentz told reporters in Japan today.
Through May, the brand’s U.S market share sat at 14.2 percent and Lentz said the brand is likely to sit somewhere between there and the 17 percent mark.
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The brand’s pull back from high volume is another signal of its focus on higher quality over increased sales numbers. Toyota president Akio Toyoda blamed rapid growth for the massive recalls in 2009 over floor mats and gas pedals causing unintended acceleration.
Most recently, Toyota unveiled its new Corolla compact sedan in California. The car is expected to start selling this fall. Despite the attitude change away from volume as a main focus, the brand continues to grow in the U.S. with sales up six percent year-over-year according to Lentz.
[Source: Reuters]
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