Toyota slid to No. 3, remains hopeful

2 years ago by in Japan Archives, National

Despite ranking third in global vehicle sales, Toyota Motors Corporation remains hopeful it could keep track of its targeted growth sales mainly from emerging markets in countries like India and China.

Toyota was world’s top selling automaker in annual sales for the past three years. The first half of 2011 though showed decline of 11 percent in the company’s sales from the same period last year. For April-June, sales plummeted to 62 percent, mainly mainly because of disruptions to production from the March 11 quake, the tsunami and nuclear crisis in the northeastern region of the country.

The company trails behind General Motors Co. which garnered 4.5 million sales on vehicles for the first half of the year; and Volkswagen AG of Germany with a total of 4.13 million sales.

Deputy Managing Director Sandeep Singh, Toyota India, expressed confidence the company remains on track with its growth vision as challenges from the three-fold disaster that the company is grappling with could only be temporary.

Prior to March 11, Toyota President Akio Toyoda said the company would be able to attain its target of global vehicle sales of 10 million by 2015.

In India, Toyota’s sales in vehicles increased by 53% or to 53,100 vehicles for the first half of this year and are seen to continue growing with the production boost in the said country as many people are becoming to be first-time car owners. Toyota is currently at the fifth rank in India’s market share.

Toyota is likewise seeing an expansion opportunity in China, the leading automaker in the world. Toyota sales in China are anticipated to reach 900,000 this year, a jump of 6% from 846,000 vehicles last year.

Toyota is also optimistic of growing its sales in the United States.

Singh emphasized that Toyota, known for making reliable cars, is committed to provide customer satisfaction more than sales figures.

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