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US Car Market Boom Likely to Continue, Forecasts Senior Toyota Exec

But sales may not set new record, cautions Carter.

by on Sep.05, 2013

Toyota's Camry outpaced the already strong surge of the US car market last month.

August’s strong automotive sales surge seems to have taken everyone by surprise, including top managers at Toyota — demand for the Japanese maker’s Toyota, Lexus and Scion branded products jumping nearly 23% last month as the U.S. market reached its highest level in at least six years.

A variety of factors seem to be drawing buyers back to showrooms, suggested Bob Carter, senior vice president of automotive operations for Toyota Motor Sales, USA. But one stands out, “Consumer confidence,” he said succinctly. “People are feeling good,” and are increasingly willing to open up their pocketbooks again.

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Industry analysts and observers have been steadily raising their forecasts for 2013 and beyond, and Toyota is no exception. After the worst industry downturn in decades, demand is likely to top 15.5 million this year, and could nudge into 16 million territory in 2014. But how high is up? Speaking to the Detroit Automotive Press Association, Carter noted some forecasters anticipate near-record numbers of 17 million by as early as 2018.


Toyota Output Down 542 Thousand in March

Japanese makers reporting huge production losses after March 11 disaster.

by on Apr.25, 2011

Toyota is building Prius again - but at a reduced rate.

The devastating disaster that struck Japan last month has a calamitous impact on the world’s largest automaker, Toyota Motor Co. today reporting its global output fell by nearly a third in March — and with the company unlikely to resume normal production levels until the very end of 2011, Toyota seems all but certain to lose its position as industry sales leader.

But Toyota is by no means unique among Japanese makers.  The Asian nation’s powerful auto industry has been humbled by the combination of a 9.0-magnitude earthquake, tsunami and nuclear power crisis that continues to wreak havoc on Japan’s manufacturing capabilities.

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Toyota has been especially hard hit because it depends more on Japanese assembly lines than other major Japanese makers, like Nissan and Honda, who have steadily shifted more and more of their production abroad.  But even those makers are struggling because of their continuing dependence on Japanese-made parts shipped to so-called “transplant” assembly lines in North America, Europe and other parts of the world.

Toyota’s Japanese-based plants were all but shut down in the wake of the March 11 disaster, vehicle output for the month plunging to just 129,491, a 63% decline.  Of that number, 107,751 were exported, a 33% drop from year-earlier levels.