As the new 2020 Toyota Corolla begins arriving in dealerships this week, the auto giant is planning to reinforce its position in the passenger car market with focus on the changing demographics across the U.S.
Ed Laukes, Toyota vice president of marketing, noted during a briefing at the press launch of new 12th generation Corolla in Savannah, Georgia, that the popular compact sedan already has a very diverse customer base. Not only does the Corolla attract the youngest buyers, but also more than 57% of the customers come minority communities. In fact, more than one third of Corolla buyers are Hispanic.
As the U.S. moves towards becoming a country where the “multi-cultural” population is in the majority, Laukes noted in his presentation that by 2020, roughly 50% of the school-age population under the age of 18 will be “multicutural,” including African-American, Hispanic or multi-racial.
The 2020 Corolla is more stylish than previous iterations of the car and come with more technology and safety features, Lalukes said.
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But Toyota will also rely on the traditional strengths that have made the Corolla a “great value” to generations of customers looking for quality, reliability and fuel efficiency, said Laukes, noting that since its introduction in 1966, the Corolla has become the best-selling car in automotive history.
The advertising campaign for the Corolla that Toyota will roll out in a month or so will be multi-lingual and include multi-cultural overtones, Toyota representatives said.
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Laukes also stressed that the 2020 Corolla is expected to continue playing an important role in building customer loyalty for the Toyota brand.
The Corolla is very first car for 24% of those buying one. Of the buyers who purchase a Corolla as their first car, 65% of them purchase another Toyota vehicle.
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The new 2020 Corolla, like the new Camry, fits neatly into Toyota’s plans to continue selling passenger cars in a market that is now heavily skewed towards trucks and sport utility vehicles, Laukes said. Unlike some manufacturers, Toyota will continue to sell passenger cars. “I would be glad to get 100% share of a 5.3 million-unit market. We’re staying in sedans and small cars,” he added.