Toyota to use Bmw engines to regain European market share

Article by Christian Andrei, on April 16, 2012

Toyota Motor Corp. is retaliating on the home base of Volkswagen Group, which surpassed the Japanese automaker in worldwide car sales in 2011. This year, Toyota is introducing the GT 86 sports coupe and the Yaris hybrid, which is the first hybrid subcompact in Europe, in an effort to regain market share in the region after sales dropped 41% since 2007.

In addition, the Japanese company will equip its automobiles with diesel engines from BMW beginning 2014 in order to further strengthen business in Europe. Toyota's European boss Didier Leroy commented that it is "unacceptable" for the company to be at this volume level in the European region.

Leroy further stated that they made themselves "much leaner, much more agile" by streamlining the decision-making process for the past two years through reducing management layers. He also shared that they "strongly went for the fighting spirit" in all the things they do, according to Autonews.

The shakeup will possibly pay off in 2012, with the Japanese automaker forecasting its first European profit in five years. Specifically, its market share in the European Union is expected to widen to 6.6% from 5.7% in 2011. On the other hand, the VW brand drops to 18.2% from 18.5%, based on IHS Automotive's data.

By achieving profits in the European region, Toyota is aiming to stop VW from becoming the largest carmaker in the world, surpassing General Motors Co. Last year, Toyota lost its No. 1 position, down to the third spot, due to the earthquake in Japan as well as the effects of worldwide recall in 2010 and 2009. VW jumped to the second rank.

Jonathon Poskitt, who is the European sales forecasting boss at Oxford, England-based LMC Automotive, commented that Toyota's real issue is "winning back customers." He explained that the automaker "really needs" to refocus on the "requirements of what are sophisticated European customers that already have a great choice in new vehicles."

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 2017
What is hotter and more menacing than a Hellcat? If we ask Dodge, its answer would be the “Demon.” Of course, we aren’t talking about a demon with horns and...
by - January 20, 2017
The 2018 model year could be an exciting year for fans and enthusiasts of the Chevrolet Corvette. This comes as the 2018 version of the Corvette is bound to feature...
by - January 19, 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