Toyota Motor Corp. remarked it that it may not regain its peak market share it had around four years ago in the United States. According to Toyota Senior Managing Officer Jim Lentz, the carmaker could earn a market share of between 14 percent to under 17 percent in the future. Toyota’s market share in the US in the first five months of 2013 was 14.2 percent, while its peak was at 17 percent in 2009.
Lentz said that due to some very unique tailwinds, the 17-percent market share may not be a realistic number. Lentz is also the Toyota's chief executive for North America.
The statement is the latest sign that Toyota is shifting from aggressive sales expansion to quality improvement. Toyota President Akio Toyoda remarked that the recall crisis the carmaker experienced from 2009 to 2010 was partly caused by its growth spurt in the past decade.
Toyota’s US market share reached its peak in 2009 after its American rivals suffered heavy financial problems following the global financial crisis. It managed to outsell Ford and was second after General Motors.
Toyota’s US market share in 2012 was 14.4 percent, reflecting a good recovery from the dismal 2011, when its supply chains were disrupted by natural calamities in Japan. The carmaker held a 12.9-percent US market share in 2011. Toyoda wants the Japanese carmaker to revert to its old attitude of focusing on quality. [source: WSJ]