Toyota North America to post fastest growth this fiscal year

Article by Anita Panait, on May 14, 2013

Toyota Motor Corp. views North America as its fastest-growing market this current financial year ending March 31, 2014, leading the carmaker to post its highest profits since the global financial crisis. Toyota expects its sales in North America to jump 7 percent to 2.6 million vehicles in the current fiscal year. The carmaker expects its redesigned Lexus IS sedan and Toyota Corolla compact car to boost its growth in the region, which is anticipated to outpace slower gains in other markets as well as a sales slump in Japan.

Executive Vice President Nobuyori Kodaira remarked, while releasing the carmaker’s fiscal year earnings, that in the United States, employment is increasing and the housing market is improving, adding that the country’s economy is in “very good shape." He further noted that the North American market is now showing an improvement. 

Toyota posted a 32-percent jump in sales in North America to 2.5 million units in the fiscal year ended March 31, 2013, as the Japanese carmaker rallied from  the inventory problems caused by the 2011 earthquake in Japan and floods in Thailand.

For 2013, a slower yet steady growth in North America could help drive Toyota to become the first global carmaker to sold 10 million vehicles in a year.  On a wholesale basis, Toyota expects to sell around 9.1 million vehicles globally in the current fiscal year, up from 8.9 million units last year.

On a retail basis, the carmaker expects to sell around 10.1 million. It also expects profit and revenue to hit the highest levels since the global financial crisis, but will not be enough to surpass an all-time record set in the fiscal year March 31, 2008.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Cadillac’s CT6 full-size prestige-luxury sedan is still somewhat new. It has been offered to the global auto market for two model years – 2016 and 2017. But for those who...
by - February 19, 2017
In many industries, it is the rivalries that make things exciting. In basketball for example, there is the well-known rivalry between the Los Angeles Lakers against the Boston Celtics. For...
by - February 19, 2017
Now on sale in several major markets around the world including Europe, the BMW 5 Series (G30) heralds the arrival of the new seventh generation and represents a whole new...
by - February 19, 2017
Just recently, it was speculated that a new Porsche Cayman GT4 RS is coming. There is no official confirmation yet from the German sports car maker, but the arrival of...
by - February 18, 2017
Will there be a BMW M4 CS? Apparently, there is a Club Sport version of the BMWM4 after it was sighted in California doing a shoot for a new commercial...
by - February 18, 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