Though it remained in the shadows of the Big 3 during the first seven months, yet Toyota lunged forward tobecome the No.2 auto retailer in the US. Surprisingly, Toyota could manage a 10.1 per cent sales gain even during those first seven months, a figure that outdid the Big 3.
Toyota with its fleet of fuel-efficient cars, hybrids, and smaller SUVs had already surpassed Chrysler several times in the last two years to take the No.3 spot in the US. In addition, it has already carved out a niche for itself in international auto market, when it outsold Ford in 2003 to become the second best-selling automaker behind GM.
Most auto analyst predicts that Toyota would outdo GM by this decade’s end to become the global leader. Jesse Toprak, Edmunds.com shares:
Look at the trend over the past four years, and if you assume that all else remains the same, we believe Japanese automakers will be outselling domestics in the U.S. by 2014.
Toyota’s 11.7 per cent July gain from last year is impelled by heavy sales of its Corolla compact car, and maximum from the redesigned RAV4. These cars give Toyota an edge over the Big 3 who are heavily dependent on large pickup trucks and sport utility vehicles.
Toyota’s accomplishment also helped Asian-based automakers record their best showing ever, securing 41.4 per cent of the U.S. passenger vehicle market in July. Though General Motors Corp. managed to retain the top spot, yet it stands on shaky grounds as American car companies’ collective market share dropped by as much as 52 per cent. Hyundai Motor Co., whose sales were up 6.2 per cent, is the second biggest gainer; Honda, 6 per cent; and Mazda Motor Corp., 4.6 per cent. Honda Motor Co., the erstwhile No. 5 carmaker in the U.S., by overtaking Chrysler Group captured the fourth place in sales for the first time.
Source: www.latimes.com
Via: jamaica-gleaner
