Toyota plans to build an additional 100,000 trucks and sport utility vehicles this year to meet rising consumer demand, Bob Carter, Toyota executive vice president, told the NADA-J.D. Power Automotive Forum on the eve of the New York International Show, but it’s not giving up on cars.
Carter stressed that Toyota isn’t about to give up on the midsize passenger car segment, which remains one of the largest segment in the industry despite three years of decline that continued during the first quarter of 2017.
Toyota has sold about 10 million Toyota Camrys over the years and is preparing to launch a new version this year. The preparations for the launch of the next generation Camry are one of the reasons that Toyota confirmed once again this week it plans to invest of $1.3 billion in the company’s manufacturing complex in Georgetown, Kentucky. (more…)