CEO of Toyota Motors Sales USA optimistic on US economy

Article by Anita Panait, on March 29, 2013

Jim Lentz, the newly appointed chief executive of Toyota Motor Sales USA, is optimistic about the growing economy of the United States, but is cautious on uncertainties that can derail consumer's attitude. In an interview with Reuters after the New York Auto Show, Lentz remarked that aging vehicles will continue to drive demand in 2013, as consumers try to replace their old units

Lentz expects the US auto industry to sell 15.3 million new cars this year, up from 14.5 million in 2012. Six months ago, Toyota forecasted the US auto industry to sell 14.7 million new cars in 2013, but its estimates at that time was affected by the fiscal cliff that might derail the economy.

Lentz, however, does not have to worry about the uncertainties this year, thanks to consumer aging vehicles that have now reached an all-time high of over 11 years as well as to improving mood of consumers as the housing and stock markets rise. Lentz noted that the improving situation in the US is boosting overall consumer confidence.

Toyota is expected to sell around 2.2 million cars and trucks on its three brands: Toyota, Lexus and Scion. The figure is much higher than the number of cars and trucks the carmaker sold in 2012 at 2.08 million units. Toyota is introducing nine new or updated vehicles in 2013. Carmakers are set to report their March sales in the US on Tuesday. Lentz said Toyota expects the industry's annual sales rate to be at around 15.4 million vehicles.

Topics: toyota, ceo

If you liked the article, share on:

Pin It

Comments

Recommended

Lamborghini has disclosed that it is looking into the possibility of releasing electric vehicles. With the Volkswagen Group revealing that it will be releasing electric vehicles within several years, there...
by - March 25, 2017
Daimler AG, through its Smart division, has disclosed that its two electric models, the Smart ForTwo and the Smart ForFour are now open for orders in Germany. Official market launch...
by - March 25, 2017
Lamborghini has officially offered clear proof that the Huracán Performante was able to set a new record at the Nürburgring Nordschleife with a time of 6:52.01 It was in early...
by - March 25, 2017
Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries