Toyota raises sales forecast for North America

Article by Christian A., on August 26, 2010

Amid the persistence of recall woes, sales of Toyota Motor Corp. dropped further in July but despite that, it has boosted its North American sales forecast. For the fiscal year that ends March 31, 2011, Toyota now expects for sales to reach 2.17 million vehicles in North America. Its previous forecast had been for sales of 2.13 million units.

The new forecast would stand for a 3% increase over last year's sales of 2.098 million units. Toyota announced its optimistic outlook on Aug. 4, as it also disclosed its return to profit in the quarter that ended June 30, with operating income of €211.6 billion, or $2.39 billion.

A year earlier, it had fallen to an operating loss of €194.9 billion, or $2.2 billion, a year earlier.Contributing to these results is the 36% increase in North American sales, to 526,000 units, in the April-June period.

Toyota expects that the upward movement in its largest market will continue. Takahiko Ijichi, Toyota's senior managing director, said that the company revised its outlook in North America to reflect its recent sales performance.

Meanwhile, Toyota's US sales dropped by 3% to 169,224 units in July, while its market share narrowed to 16.1% from 17.5% a year earlier. Despite the recalls, overall US sales went up by 8% for the year.

In addition, July market share was up from 14.3% in June. Toyota's recovery has been gradual after having posted its first operating loss in seven decades in light of the largest dent to its reputation in quality. Since last fall, Toyota has recalled 11.2 million cars worldwide. Just last month, Toyota recalled 412,000 high-end passenger cars in the US to repair steering problems.

If you liked the article, share on:

Comments

Recommended

You probably heard about Ford’s CEO Mark Fields’ departure from the company. Fields has spent almost three years with the company, and now, he is going to be replaced by...
by - May 28, 2017
A racing team is claiming that it has managed to break the lap record in its category in the ever-demanding Nurburgring circuit in 2016 while driving a road-going Volvo S60...
by - May 27, 2017
Aside from the officially confirmed BMW 8 Series, the next generation BMW M5 (F90) is getting a lot of attention from the fans, enthusiasts and even potential customers around the...
by - May 27, 2017
Automobili Lamborghini’s preparations for the production of its first ever sports utility vehicle, the new Lamborghini Urus, has reached new grounds as the Italian carmaker is disclosing plans to construct...
by - May 26, 2017
The upscale version of the GMC Yukon body-on-frame sport utility vehicle – the GMC Yukon Denali – has been refreshed for the 2018 model year. It now sports a new...
by - May 26, 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